Defying all expectations, G7 leaders have missed a historic opportunity to tackle the triple crises of climate, COVID and nature’s fall, say leading analysts after the conclusion of the Cornwall summit.
He says that if these leaders do not unite by the G20 meeting in October, then the COP26 meeting is bound to fail. The United Nations General Assembly, which is currently due in September, has now been set as the key date for the G7 leaders ahead of COP26.
Responding to her, Greenpeace Executive Director, Jennifer Morgan, said, “Everyone is vulnerable to COVID-19 and worsening climate impacts, but this attitude of G7 leaders will hurt the most vulnerable and the most vulnerable. is in bad condition. The G7 meeting has failed to establish the role for a successful COP26 because of a lack of trust between rich and developing countries. Rebuilding this much needed multilateral trust means supporting the TRIPS exemption for the People’s Vaccines, meeting commitments to climate finance for the most vulnerable countries, and eliminating fossil fuels from forever politics (K. scope).”
Further, Rachel Kyatt, dean at Tufts Fletcher School and former UN climate representative, says, “We need a detailed plan by the UN General Assembly to make $100 billion a reality. This is a big year for climate diplomacy. and G7 members will have to hit high notes in G20 finance meeting in July, UNGA in September, COP15 in Kunming, IMF/World Bank annual meetings in October and G20 before arriving in Glasgow in November ).”
According to Tasneem Essop, Executive Director, Climate Action International, “The outcome of the G7 summit is not capable of addressing the twin global crises facing the world. A historic pandemic that has killed four million people.” and put billions at risk, especially unvaccinated populations in poor countries; and the increasingly devastating climate impacts and losses and damages associated with the devastating reliance on fossil fuels, including oil and gas. 19 must agree to revoke patents on vaccines and treatments and implement a plan to provide resources and technology to accelerate vaccine manufacturing globally. Donating doses of vaccines, although good intentions, can help this pandemic There is not an efficient, equitable, or fast way to end climate finance. On climate finance, the $100 billion promised a decade ago is the minimum amount needed to build trust and meet past obligations prior to COP26. Current obligations to rich countries should go beyond repeat and not Or further additional finance should be given. We must remember that $100 billion is not a one-time payment. It’s an ongoing annual commitment agreed upon in the Paris Agreement by rich countries to do their fair share and raise trillions in finances so that we want to keep warming within 1.5C degrees this decade.”
At the meeting in Cornwall, each of the G7 countries committed to increasing and improving climate finance by 2025, but only a few offered clear new pledges. Canada is also among countries to increase climate finance contributions, while others said they would review promises ahead of COP26. The leaders agreed to end public financing of coal by 2021 – with Canada, Germany, the UK and the United States agreeing to back a $2 billion coal transition fund. The deal leaves China alone as the world’s biggest public supporter of the world’s dirtiest fossil fuel.
G7 leaders offered a green alternative to China’s Belt and Road – but the G7 ‘Marshall Plan’ or ‘Build Back a Better World’ initiative needs immediate details, to be delivered by the UN General Assembly in September.
Bernice Lee, Hoffman Distinguished Fellow for Sustainability and Research Director – Futures at Chatham House, said, “It is good to see the G7 turn its back on coal – but words alone are not enough. They now need to get serious about a global clean partnership that is beneficial to developing countries. Given the many crises we face, the G7 and China must partner by 2020 – if Beijing and Cornwall leaders can’t find a way to cooperate, we face a bleak future “
Further, E3G Senior Associate, Alden Meyer, said, “The Build Back Better World initiative is lean on rhetoric but brief on details about how they will raise the trillions of dollars needed to meet their goals. G7 leaders leave Cornwall with a lot of homework for the climate summit in Glasgow this November, if they are to show the leadership the world desperately needs in the face of the climate emergency.”