CARBIS BAY G7 SUMMIT COMMUNIQUÉ
Our Shared Agenda for Global Action to Build Back Better
We, the leaders of the Group of Seven, met in Cornwall on 11-13 June 2021 determined to beat COVID-19 and build back better.
We remembered everyone who has been lost to the pandemic and paid tribute to those still striving to overcome it.
Inspired by their example of collaboration and determination, we gathered united by the principle that brought us together originally, that shared beliefs and shared responsibilities are the bedrock of leadership and prosperity.
Guided by this, our enduring ideals as free open societies and democracies, and by our commitment to multilateralism, we have agreed a shared G7 agenda for global action to:
● End the pandemic and prepare for the future by driving an intensified international effort, starting immediately, to vaccinate the world by getting as many safe vaccines to as many people as possible as fast as possible. Total G7 commitments since the start of the pandemic provide for a total of over two billion vaccine doses, with the commitments since we last met in February 2021, including here in Carbis Bay, providing for one billion doses over the next year. At the same time we will create the appropriate frameworks to strengthen our collective defences against threats to global health by: increasing and coordinating on global manufacturing capacity on all continents; improving early warning systems; and support science in a mission to shorten the cycle for the development of safe and effective vaccines, treatments and tests from 300 to 100 days.
● Reinvigorate our economies by advancing recovery plans that build on the $12 trillion of support we have put in place during the pandemic. We will continue to support our economies for as long as is necessary, shifting the focus of our support from crisis response to promoting growth into the future, with plans that create jobs, invest in infrastructure, drive innovation, support people, and level up so that no place or person, irrespective of age, ethnicity or gender is left behind. This has not been the case with past global crises, and we are determined that this time it will be different.
● Secure our future prosperity by championing freer, fairer trade within a reformed trading system, a more resilient global economy, and a fairer global tax system that reverses the race to the bottom. We will collaborate to ensure future frontiers of the global economy and society, from cyber space to outer space, increase the prosperity and wellbeing of all people while upholding our values as open societies. We are convinced of the potential of technological transformation for the common good in accordance with our shared values.
● Protect our planet by supporting a green revolution that creates jobs, cuts emissions and seeks to limit the rise in global temperatures to 1.5 degrees. We commit to net zero no later than 2050, halving our collective emissions over the two decades to 2030, increasing and improving climate finance to 2025; and to conserve or protect at least 30 percent of our land and oceans by 2030. We acknowledge our duty to safeguard the planet for future generations.
● Strengthen our partnerships with others around the world. We will develop a new partnership to build back better for the world, through a step change in our approach to investment for infrastructure, including through an initiative for clean and green growth. We are resolved to deepen our current partnership to a new deal with Africa, including by magnifying support from the International Monetary Fund for countries most in need to support our aim to reach a total global ambition of $100 billion.
● Embrace our values as an enduring foundation for success in an ever changing world. We will harness the power of democracy, freedom, equality, the rule of law and respect for human rights to answer the biggest questions and overcome the greatest challenges. We will do this in a way that values the individual and promotes equality, especially gender equality, including by supporting a target to get 40 million more girls into education and with at least $23⁄4 billion for the Global Partnership for Education.
We shall seek to advance this open agenda in collaboration with other countries and within the multilateral rules-based system. In particular, we look forward to working alongside our G20 partners and with all relevant International Organisations to secure a cleaner, greener, freer, fairer and safer future for our people and planet.
6. Our immediate focus is beating COVID-19 and we set a collective goal of ending the pandemic in 2022.
The COVID-19 pandemic is not under control anywhere until it is under control everywhere.
In an interconnected world global health and health security threats respect no borders.
We therefore commit both to strengthen global action now to fight COVID-19, and to take further tangible steps to improve our collective defences against future threats and to bolster global health and health security.
This includes strengthening the World Health Organization (WHO) and supporting it in its leading and coordinating role in the global health system.
ECONOMIC RECOVERY AND JOBS
19. Our plans for the recovery from COVID-19 need to put us on a path to strong, sustainable, balanced, inclusive and resilient growth by not only addressing the immediate challenges arising from the pandemic, but also the long-term shifts in the global economy and society, including demographic, technological, and environmental trends, and inequalities between and within countries, many of which have been magnified by the COVID-19 pandemic. Recognising the interconnected nature of these global challenges, we are taking an integrated approach to our shared commitments.
We need a tax system that is fair across the world. We endorse the historic commitment made by the G7 on 5 June. We will now continue the discussion to reach consensus on a global agreement on an equitable solution on the allocation of taxing rights and an ambitious global minimum tax of at least 15 per cent on a country-by-country basis, through the G20/OECD inclusive framework and look forward to reaching an agreement at the July meeting of G20 Finance Ministers and Central Bank Governors. With this, we have taken a significant step towards creating a fairer tax system fit for the 21st century, and reversing a 40-year race to the bottom. Our collaboration will create a stronger level playing field, and it will help raise more tax revenue to support investment and it will crack down on tax avoidance.
FREE AND FAIR TRADE
27. We stand united in our commitment to free and fair trade as foundational principles and objectives of the rules-based multilateral system.
We agree on the need for the world’s leading democratic nations to unite behind a shared vision to ensure the multilateral trading system is reformed, with a modernised rulebook and a reformed World Trade Organization (WTO) at its centre, to be free and fair for all, more sustainable, resilient and responsive to the needs of global citizens. We will maintain a particular focus on ensuring that the prosperity trade can bring is felt in all parts of our countries and by all peoples across the globe, especially the poor.
31. Future frontiers of the global economy and society – from cyber space to outer space – will determine the future prosperity and wellbeing of people all over the world in the decades ahead. As we are witnessing an increasing divergence of models, this transformation raises important questions about the interaction between economic opportunity, security, ethics, and human rights, and the balance between the role of the state, businesses and individuals.
CLIMATE AND ENVIRONMENT
37. The unprecedented and interdependent crises of climate change and biodiversity loss pose an existential threat to people, prosperity, security, and nature.
Through global action and concerted leadership, 2021 should be a turning point for our planet as we commit to a green transition that cuts emissions, increases adaptation action worldwide, halts and reverses biodiversity loss, and, through policy and technological transformation, creates new high quality jobs and increases prosperity and wellbeing. Ahead of the 15th Conference of the Parties of the Convention on Biological Diversity (CBD COP15), the 26th UN Climate Change Conference of the Parties (UNFCCC COP26) and the fifteenth session of the Conference of the Parties to the UN Convention to Combat Desertification (CCD COP15), we commit to accelerating efforts to cut greenhouse gas emissions and keep the 1.5°C global warming threshold within reach, strengthening adaptation and resilience to protect people from the impacts of climate change, halting and reversing biodiversity loss, mobilising finance and leveraging innovation to reach these goals. We welcome and encourage business, civil society and regional commitments to global climate and biodiversity ambition through science based targets, including the Race to Resilience and Race to Zero campaigns. Together we welcome the active role and participation of vulnerable communities, underrepresented groups and will work towards achieving equality, including gender equality, in the climate and environment sector. We will continue our efforts to progress the Equal by 30 Campaign for gender equality in the energy sector.
38. As G7 members, we all reaffirm our commitment to the Paris Agreement and to strengthening and accelerating its implementation through robust national policies and measures and scaled up international cooperation. To this end we collectively commit to ambitious and accelerated efforts to achieve net zero greenhouse gas emissions as soon as possible and by 2050 at the latest, recognising the importance of significant action this decade. In line with this goal, we have each committed to increased 2030 targets and, where not done already, commit to submit aligned Nationally Determined Contributions (NDCs) as soon as possible ahead of COP26, which will cut our collective emissions by around half compared to 2010 or over half compared to 2005. We also commit to submit 2050 Long Term Strategies (LTSs) by COP26 and to regularly update these as needed in line with the Paris agreement to reflect the latest science, technological advances and market developments. Recognising the importance of adaptation in our own national planning, we also commit to submitting adaptation communications as soon as possible, and if feasible by COP26. In fulfilling these commitments we will continue to increase our efforts to keep a limit of 1.5°C temperature rise within reach and chart a G7 pathway towards Net Zero economies. We call on all countries, in particular major emitting economies, to join us in these goals as part of a global effort, stepping up their commitments to reflect the highest possible ambition and transparency on implementation under the Paris Agreement. We also note the value of supporting international initiatives such as the OECD’s International Programme for Action on Climate Mechanism (IPAC).
39. To be credible, ambitions need to be supported by tangible actions in all sectors of our economies and societies. We will lead a technology-driven transition to Net Zero, supported by relevant policies, noting the clear roadmap provided by the International Energy Agency and prioritising the most urgent and polluting sectors and activities:
● In our energy sectors, we will increase energy efficiency, accelerate renewable and other zero emissions energy deployment, reduce wasteful consumption, leverage innovation all whilst maintaining energy security. Domestically, we commit to achieve an overwhelmingly decarbonised power system in the 2030s and to actions to accelerate this. Internationally, we commit to aligning official international financing with the global achievement of net zero GHG emissions no later than 2050 and for deep emissions reductions in the 2020s. We will phase out new direct government support for international carbon-intensive fossil fuel energy as soon as possible, with limited exceptions consistent with an ambitious climate neutrality pathway, the Paris Agreement, 1.5°C goal and best available science. To be credible, ambitions need to be supported by tangible actions in all sectors of our economies and societies. We will lead a technology-driven transition to Net Zero, noting the clear roadmap provided by the International Energy Agency and prioritising the most urgent and polluting sectors and activities.
● Recognising that coal power generation is the single biggest cause of greenhouse gas emissions, and consistent with this overall approach and our strengthened NDCs, domestically we have committed to rapidly scale-up technologies and policies that further accelerate the transition away from unabated coal capacity, consistent with our 2030 NDCs and net zero commitments. This transition must go hand in hand with policies and support for a just transition for affected workers, and sectors so that no person, group or geographic region is left behind. To accelerate the international transition away from coal, recognising that continued global investment in unabated coal power generation is incompatible with keeping 1.5°C within reach we stress that international investments in unabated coal must stop now and we commit now to an end to new direct government support for unabated international thermal coal power generation by the end of 2021, including through Official Development Assistance, export finance, investment, and financial and trade promotion support. This transition must also be complemented by support to deliver this, including coordinating through the Energy Transition Council. We welcome the work by the Climate Investment Funds (CIFs) and donors plan to commit up to $2 billion in the coming year to its Accelerating the Coal Transition and Integrating Renewable Energy programs. These concessional resources are expected to mobilize up to $10 billion in co-financing, including from the private sector, to support renewable energy deployment in developing and emerging economies. We call on other major economies to adopt such commitments and join us in phasing out the most polluting energy sources, and scaling up investment in the technology and infrastructure to facilitate the clean, green transition. More broadly, we reaffirm our existing commitment to eliminating inefficient fossil fuel subsidies by 2025, and call on all countries to join us, recognising the substantial financial resource this could unlock globally to support the transition and the need to commit to a clear timeline.
● In our transport sectors, we commit to sustainable, decarbonised mobility and to scaling up zero emission vehicle technologies, including buses, trains, shipping and aviation. We recognise that this will require dramatically increasing the pace of the global decarbonisation of the road transport sector throughout the 2020s, and beyond. This includes support for accelerating the roll out of necessary infrastructure, such as charging and fueling infrastructure and enhancing the offer of more sustainable transport modes, including public transport, shared mobility, cycling and walking. We commit to accelerate the transition away from new sales of diesel and petrol cars to promote the uptake of zero emission vehicles.
● In our industrial and innovation sectors we will take action to decarbonise areas such as iron and steel, cement, chemicals, and petrochemicals, in order to reach net zero emissions across the whole economy. To this end, we will harness our collective strengths in science, technological innovation, policy design, financing, and regulation including through our launch of the G7 Industrial Decarbonisation Agenda to complement, support and amplify ambition of existing initiatives. This includes further action on public procurement, standards and industrial efforts to define and stimulate demand for green products and enhance energy and resource efficiency in industry. We will focus on accelerating progress on electrification and batteries, hydrogen, carbon capture, usage and storage, zero emission aviation and shipping, and for those countries that opt to use it, nuclear power. We therefore fully support launching Mission Innovation phase two and the Clean Energy Ministerial third phase.
● In our homes and buildings, and also industry, we recognise the need for an urgent step change in the deployment of renewable heating and cooling and reduction in energy demand. This complements required shifts in building design, sustainable materials and retrofits. We therefore welcome the Super-Efficient Equipment and Appliance Deployment (SEAD) initiative’s goal of doubling the efficiency of lighting, cooling, refrigeration and motor systems sold globally by 2030.
● In our agricultural, forestry and other land use sectors, we commit to ensuring our policies encourage sustainable production, the protection, conservation, and regeneration of ecosystems, and the sequestration of carbon. We welcome the opportunity to discuss these issues at the COP26 Transition to Sustainable Agriculture Policy Dialogue and UN Food Systems Summit in September.
40. Achieving our collective ambitions of a global green and resilient recovery offers the greatest economic opportunity of our time to boost income, innovation, jobs, productivity and growth while also accelerating action to tackle the existential threat of climate change and environmental degradation. To close the gap between the funds needed and actual finance flows requires mobilising and aligning finance and investment at scale towards the technologies, infrastructure, ecosystems, businesses, jobs and economies that will underpin a net-zero emissions resilient future that leaves no one behind. This includes the deployment and alignment of all sources of finance: public and private, national and multilateral. We recognise the particular challenges of financing the transition to net zero economies poses for developing countries and stand by our bilateral and multilateral commitments to support these partners, in the context of meaningful and transparent decarbonisation efforts. We reaffirm the collective developed country goal to jointly mobilise $100 billion per year from public and private sources, through to 2025 in the context of meaningful mitigation actions and transparency on implementation. Towards this end, we commit to each increase and improve our overall international public climate finance contributions for this period and call on other developed countries to join and enhance their contributions to this effort. We welcome the commitments already made by some of the G7 to increase climate finance and look forward to new commitments from others well ahead of COP26 in Glasgow. This increase in quantity and predictability is complemented by improved effectiveness and accessibility, and includes more finance contributing to adaptation and resilience, disaster risk and insurance, as well as support for nature and nature-based solutions. We are committed to further enhance synergies between finance for climate and biodiversity and to promote funding that has co-benefits for climate and nature and are working intensively towards increasing the quantity of finance to nature and nature-based solutions. We welcome efforts of the MDBs to scale up their climate and nature finance, urge them to mobilise increased finance including from the private sector, and call on them, Development Finance Institutions (DFIs), multilateral funds, public banks and relevant agencies to publish before COP26 a high-level plan and date by which all their operations will be fully aligned with and support the objectives of the Paris Agreement and the multilateral
environmental agreements we support.
41. We also support the transformation underway to mobilise further private capital towards these objectives in particular to support developing countries and emerging markets in making the most of the opportunities in the transition; whilst mitigating and adapting to climate change. We call upon the MDBs and our DFIs to prioritise capital mobilization strategies, initiatives and incentives within their operations. The G7 commits to leverage different types of blended finance vehicles including through our greater strategic approach to development finance, greater collaboration between our DFIs and billions worth of planned commitments towards CIF and Green Climate Fund, all of which will mobilise billions more in private finance. We also encourage further development of disaster risk finance markets. Towards this, G7 members have committed hundreds of millions worth of new financing for early action, disaster risk and insurance in line with the InsuResilience Global Partnership and Risk-Informed Early Action Partnership (REAP). We commit to establishing the necessary market infrastructure for private finance to support and incentivise the net zero transition. Developing the global green finance market will help mobilise private sector finance, and reinforce government policy to meet our
net zero commitments. We support the recently launched Glasgow Finance Alliance for Net Zero, and call on swift, robust delivery of their commitments to reduce real economy emissions. We emphasise the need to green the global financial system so that financial decisions take climate considerations into account. We support moving towards mandatory climate-related financial disclosures that provide consistent and decision-useful information for market participants and that are based on the Task Force on Climate-related Financial Disclosures (TCFD)
16 framework, in line with domestic regulatory frameworks. We also look forward to the establishment of the Taskforce on Nature-related Financial Disclosures and its recommendations. These initiatives will help mobilise the trillions of dollars of private sector finance needed, and reinforce government policy to meet our net zero commitments. We recognise the potential of high integrity carbon markets and carbon pricing to foster cost-efficient reductions in emission levels, drive innovation and enable a transformation to net zero, through the optimal use of a range of policy levers to price carbon. We underline their importance towards the establishment of a fair and efficient carbon pricing trajectory to accelerate the decarbonisation of our economies, to achieve a net zero global emissions pathway. In all this, we will develop gender-responsive approaches to climate and nature financing, investment and policies, so that
women and girls can participate fully in the future green economy.
42. Biodiversity loss is an intrinsically linked, mutually reinforcing, and equally important existential threat to our planet and our people alongside climate change. In this context, we acknowledge as the G7 our contribution to the decline of biodiversity and pledge to play our part in its restoration and conservation. We support an ambitious post-2020 global biodiversity framework to be adopted by parties at CBD COP15 which sets ambitious goals, strengthens implementation, and enhances regular reporting and review. We acknowledge our responsibility to support the world in reversing the trajectory of the loss of biodiversity and the natural environments that support it, alongside ensuring that the impact on nature is fully taken into account in our policy decision making.
43. In support of strong outcomes for nature at the Convention on Biological Diversity COP-15 in Kunming and COP26 this year, and noting the Leaders’ Pledge for Nature launched at the 75th session of the UN General Assembly 2020, we adopt the G7 2030 Nature Compact in support of the global mission to halt and reverse biodiversity loss by 2030. The Nature Compact commits us to take action across four key pillars:
● First, we commit to champion ambitious and effective global biodiversity targets, including conserving or protecting at least 30 per cent of global land and at least 30 per cent of the global ocean by 2030. We will contribute by conserving or protecting at least 30 per cent of our own land, including terrestrial and inland waters, and coastal and marine areas by 2030 according to national circumstances and approaches. These actions will help stem the extinction crisis, safeguard water and food supplies, absorb carbon pollution, and reduce the risks of future pandemics. We also fully support the commitment of the Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR) to develop a representative system of Marine Protected Areas (MPAs) in the Convention area in the Southern Ocean based on the best available scientific evidence.
● Second, we will support the transition to sustainable management and use of natural resources, and use appropriate levers to address unsustainable and illegal activities negatively impacting nature, and therefore livelihoods. This includes stepping up action
to tackle increasing levels of plastic pollution in the ocean, including working through the UN Environment Assembly (UNEA) on options including strengthening existing instruments and a potential new agreement or other instrument to address marine plastic litter, including at UNEA-5.2.
● Third, we will work intensively towards increasing investment in the protection, conservation and restoration of nature, including committing to increase finance for
17 nature based solutions through to 2025, maximising synergies of climate and biodiversity finance, and ensuring prominence of nature in both policy and economic
● Finally, we will prioritise strengthened accountability and implementation mechanisms of
Multilateral Environmental Agreements to which we are parties. We will implement the Compact and review our progress against it regularly through existing G7 mechanisms, including at the G7 Leaders’ Summit in five years when we will review options to ratchet up our action and ambition, as needed, to ensure delivery of our 2030 vision. Those G7 members party to the CBD will also champion successful implementation of the post-2020 global biodiversity framework to be agreed at COP15.
44. Gender equality is at the heart of an open, inclusive, and just society. Persistent gaps in gender equality affect access to basic services as well as decent work, equal pay, social protection, education, technology and many other areas. Unequal division of unpaid care responsibilities in the home and low pay for paid care work also limits women’s empowerment, social and economic participation and leadership. Gender equality intersects with other characteristics and our actions need to take account of these intersections in a meaningful way, including tackling racism in all forms and violence and discrimination against LGBQTI+ populations. We recognise the devastating and disproportionate impact of COVID-19 on women and girls, which risks reversing hard-won gains especially with regards to gender-based violence, sexual and reproductive health and rights, education and jobs.
45. The advancement of gender equity and equality are a central pillar of our plans and policies to build back better, informed by three key priorities: educating girls, empowering women and ending violence against women and girls. Achieving gender equality needs to be underpinned by the full, equal and meaningful participation of women in all aspects of decision-making. We are committed to close alignment with the Generation Equality Forum (GEF) and commend the organisation of the first G20 Ministerial Conference on women’s empowerment. We thank the Gender Equality Advisory Council (GEAC) for its work and recommendations, and look forward to receiving the GEAC’s full report in the Autumn. We agree to a consistent and sustained focus on gender equality to project our global leadership on this issue, and intend to convene the GEAC as a standing feature of all G7 Presidencies. We know that we cannot make true progress towards gender equality without robust data and a way to track it over time. We invite the GEAC to work with existing accountability mechanisms such as the Accountability Working Group and the Taormina Roadmap to monitor G7 commitments to achieve gender equality on an annual basis.
46. We reaffirm our full commitment to promote and protect the sexual and reproductive health and rights (SRHR) of all individuals, and recognise the essential and transformative role they play