G7 leaders met on February 19th and resolved to work together to beat Covid-19 and rebuild better. Drawing on the G7’s strengths and values as democratic, open economies and societies, the leaders committed to work together and with others to make 2021 a turning point for multilateralism and to shape a recovery that promotes the health and prosperity of the planet.
They committed to intensify cooperation on the health response to COVID-19. They confirmed that, together with the World Health Organisation (WHO), they will accelerate global vaccine development and deployment; work with industry to increase manufacturing capacity, including through voluntary licensing; improve information sharing, such as on sequencing new variants; and, promote transparent and responsible practices, and vaccine confidence.
“We reaffirm our support for all pillars of the Access to COVID-19 Tools Accelerator (ACT-A), its COVAX facility, and affordable and equitable access to vaccines, therapeutics and diagnostics, reflecting the role of extensive immunisation as a global public good,” their statement read. “With increased financial commitments of over four billion USD to ACT-A and COVAX, collective G7 support totals seven and a half billion USD. We invite all partners, including the G20 and International Financial Institutions, to join us in increasing support to ACT-A, including to increase developing countries’ access to WHO-approved vaccines through the COVAX facility.”
G7 leaders have provided unprecedented support for their countries’ economies over the past year totalling over $6 trillion across the G7. They will continue to protect jobs and support a strong, sustainable, balanced and inclusive recovery. They also reaffirmed their support to the most vulnerable countries, their commitment to the Sustainable Development Goals, and their partnership with Africa, including to support a resilient recovery. They will work through the G20 and with the International Financial Institutions to strengthen support for countries’ responses by exploring all available tools, including through full and transparent implementation of the Debt Service Suspension Initiative and the Common Framework.
“COVID-19 shows that the world needs stronger defences against future risks to global health security,” their statement read. “We will work with the WHO, G20 and others, especially through the Global Health Summit in Rome, to bolster global health and health security architecture for pandemic preparedness, including through health financing and rapid response mechanisms, by strengthening the One Health approach and Universal Health Coverage, and exploring the potential value of a global health treaty.”
Looking to UNFCCC COP26 and CBD COP15, G7 leaders will put their global ambitions on climate change and the reversal of biodiversity loss at the centre of our plans. They will make progress on mitigation, adaptation and finance in accordance with the Paris Agreement and deliver a green transformation and clean energy transitions that cut emissions and create good jobs on a path to net zero no later than 2050. We are committed to levelling up our economies so that no geographic region or person, irrespective of gender or ethnicity, is left behind.
“We will champion open economies and societies; promote global economic resilience; harness the digital economy with data free flow with trust; cooperate on a modernised, freer and fairer rules-based multilateral trading system that reflects our values and delivers balanced growth with a reformed World Trade Organisation at its centre; and, strive to reach a consensus-based solution on international taxation by mid-2021 within the framework of the OECD.”
“With the aim of supporting a fair and mutually beneficial global economic system for all people, we will engage with others, especially G20 countries including large economies such as China. As Leaders, we will consult with each other on collective approaches to address non-market oriented policies and practices, and we will cooperate with others to address important global issues that impact all countries.”
They concluded by agreeing concrete action on these priorities at the G7 Summit in the United Kingdom in June, and to support the commitment of Japan to hold the Olympic and Paralympic Games Tokyo 2020
