The leaders of the Group of 7 (G7) of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States concluded a two-day summit on Tuesday (28.06.2022) in which theClimate action and energy transition, the world food security and war in ukraine occupied a prominent place.
In a statement, G7 leaders condemned “Russia’s illegal and unjustifiable war of aggression against Ukraine” and pledged to “take immediate measures to secure energy supplies and reduce price spikes caused by extraordinary market conditions.”
According to the Executive Summary of the 28-page document, the Group’s financial support to Ukraine in 2022 exceeds USD 2800 billion in humanitarian aid, and countries “stand ready to provide” an additional USD 29,5 billion in budgetary assistance.
The leaders said they will continue sanctions “for as long as necessary” and will aim to “reduce Russia’s revenues, including from gold.” At the same time, the leaders pledge to “help stabilize and transform the global economy while addressing the rising cost of living” and “reaffirm the commitment to gradually eliminate (…)dependence on Russian energy, without compromising…climate and environmental goals.”
They also pledged to “coordinate on (…) economic security, strengthen the resilience of supply chains and ensure a level playing field.”
The leaders “support the goals of an open and cooperative international Climate Club, and will work with partners to establish it by the end of 2022.”
An independent statement noted that the Climate Club will be built around three pillars: promote ambitious and transparent climate change mitigation policies towards climate neutrality; transform industries to accelerate decarbonisation; and boost international ambition through partnerships and cooperation to facilitate climate action and promote a just energy transition.
The Leaders’ Communiqué noted that G7 countries “have ended new direct government support for steady international coal-fired power generation by the end of 2021” and “commit to ending new direct public support for the steady international fossil fuel power sector by the end of 2021 and 2022”, with some exceptions “in line with a 1,5°C warming limit and the goals of the Paris Agreement”.
In addition, countries also issued a G7 Declaration on Support for Ukraine and another on Global Food Security and, with partner countries, a 2022 Resilient Democracies Declaration.
The German G7 Presidency has convened the G7 Leaders' Summit from 26 to 28 June 2022 in the Bavarian Alps under the general theme "Progress towards a fair world".
La German G7 presidency The G7 has pursued five main goals: sustainable planet; economic stability and transformation; healthy lives; investment in a better future; and stronger together. The GXNUMX leaders were joined by the President of the European Council and the President of the European Commission, jointly representing the European Union, as well as the leaders of Argentina, India, Indonesia, Senegal and South Africa, who participated as guests.G7 Leaders' Statement)
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