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G-7 Leaders Poised to Turn Spotlight on Climate Finance
REEI 2021/06/10

The world’s richest governments are under mounting pressure to help poor countries fight climate change. At the Group of Seven summit in the U.K., they’ll get a fresh chance to do something about it.

Leaders of the G-7, including U.S. President Joe Biden and German Chancellor Angela Merkel, are meeting in Cornwall, England through Sunday. On the agenda is a discussion of how to help finance a shift to cleaner energy in low-income countries.

Observers are looking for a pledge from the group to steer the recovery from the pandemic in a greener, fairer direction. A draft document seen by Bloomberg News ahead of the summit includes a commitment for each G-7 member to increase its financial contributions to help the poorest countries decarbonize. Specifics are still under discussion. Canadian Prime Minister Justin Trudeau is expected to announce new funding, according to a person familiar with the matter.






Guest post from Bloomberg