The G8 Climate Change Roundtable was formed in January 2005 at the World Economic Forum in Davos. The first meeting was held in Gleneagles, Scotland, from 6–8 July 2005, to coincide with the 31st G8 summit. The roundtable was established by twenty-three leading international businesses who co-operatively engaged in a global plan of action. The aim of the group was to ensure that a long-term policy framework is set up to enable market-based solutions in mitigating climate change.