The Group of Seven Wealthy Democracies have held their first one-on-one summit in two years at a seaside resort in south-west England.
Falmouth, England – The Group of Seven Wealthy Democracies have completed their first face-to-face summit in two years at a seaside resort in southwest England. The leaders of the G-7 – Canada, France, Germany, Italy, Japan, the United Kingdom and the United States – made commitments on a range of topics, from sharing coronavirus vaccines to tackling climate change and making corporate taxation fair .
Their final agreement from the three-day meeting also included a clause on challenging China on “unprofessional” economic practices and calling on Beijing to respect human rights.
Here are the details of the major topics covered by them:
sharing the vaccine
Presidents and prime ministers committed to sharing at least 1 billion vaccine shots with struggling countries over the next year, with deliveries starting in August. US President Joe Biden promised 500 million doses. Britain and Canada each committed to delivering 100 million shots, and France said it would pitch in with 60 million doses.
However, the World Health Organization has said that 11 billion doses are needed to truly end the epidemic. Public health advocates also argue that the dose of a promising vaccine is not enough, and money and logistical help are needed to put the shot in the arms of people in poor countries.
The leaders committed to end new direct government support for “unconnected international thermal coal power generation” – the use of coal without technology to reduce carbon emissions – by the end of the year, and a $2 billion coal transition. Fund supported.
They also pledged to preserve or protect at least 30% of their countries’ land and marine areas by 2030 as part of the Global Biodiversity Goals. And they agreed to increase funding for projects to curb climate change by 2025 and reaffirmed their support for the goal of producing net-zero carbon emissions after 2050.
Major climate groups said the summit did little to provide meaningful details. He urged rich countries to reiterate existing obligations and put solid new climate financing on the table.
The G-7 leaders said they would work together to challenge China’s “non-market policies”. They also agreed to call on Beijing to respect human rights in the far western region of Xinjiang, where Chinese officials are accused of serious rights abuses against China. Uighur minority, and in the semi-autonomous city of Hong Kong.
US President Joe Biden wanted to persuade fellow democratic leaders to present a more unified front to compete economically with Beijing and to strongly call out China’s “non-market policies and human rights abuses”.
The leaders committed to eliminating forced labor in global supply chains, “including state-sponsored forced labor from vulnerable groups and minorities.” This section of their meeting release did not name China, but the White House said the language was aimed at the concern’s main supply chain in the Xinjiang region.
G-7 leaders supported a global minimum tax of at least 15% on multinational corporations, a measure to prevent businesses from using tax havens to transfer profits and evade taxes.
Their agreement supported a plan previously outlined by G-7 finance ministers. Seven countries hope that many more will sign it, but it is a frightening proposition in countries with economies based on using low corporate taxes to attract businesses.
The leaders agreed on an infrastructure proposal called “Build Back Better for the World”, which calls for hundreds of billions of dollars to be spent in collaboration with the private sector to finance green infrastructure projects in poor countries.
It is designed to compete with China’s multi-trillion dollar “Belt and Road” initiative, which funds a vast network of infrastructure covering large parts of the world, primarily Asia and Africa. .
preparing for future pandemics
The leaders said that in the event of a future pandemic, they would try to ensure the availability of safe and effective vaccines, treatments and diagnostic tests within the first 100 days.
The British government’s chief scientific adviser, Patrick Vallance, said the “100-day mission” report gave recommendations for leaders to accelerate the response to another pandemic, but acknowledged that any such response must be global and include countries which do not belong to the G-7. .
The leaders said that COVID-19 has exacerbated underlying inequalities and led to an education crisis, especially for girls. They supported the goal of bringing 40 million more girls to school in poor countries by 2026, and committed to a combined $2.75 billion in funding over the next five years for the Global Partnership for Education.