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G7 summit at a glance: These are the ten key results from Elmau


G7 summit at a glance: These are the ten key results from Elmau Created: 06/29/2022, 09:44 am By: Hannes Niemeyer The G7 summit is over. There are photos in front of a mountain panorama, numerous discussions – and ten results from the work discussions. An overview. Elmau – Three eventful days are over: the 2022 G7 summit in Elmau is over. In a total of seven working meetings, the heads of gove

G7 summit at a glance: These are the ten key results from Elmau

Created: 06/29/2022, 09:44 am

By: Hannes Niemeyer

The G7 summit is over.

There are photos in front of a mountain panorama, numerous discussions – and ten results from the work discussions.

An overview.

Elmau – Three eventful days are over: the 2022 G7 summit in Elmau is over.

In a total of seven working meetings, the heads of government from seven of the supposedly most powerful countries in the world spoke under the patronage of Federal Chancellor Olaf Scholz about a wide variety of topics from climate protection to the Ukraine war.

Finally, in the final G7 statement, Chancellor Scholz once again clearly stated that Vladimir Putin must not win the war.

US President Joe Biden had already left by then.

The results and the collective solidarity of the seven large countries are also exciting in view of the NATO summit in Madrid that will follow immediately.

Under the motto "Progress for a just world", the G7 countries published an overview of the decisions and agreements of the three days at Schloss Elmau on Tuesday afternoon.

The ten key results at a glance:

G7 summit at a glance: G7 strengthens solidarity with Ukraine

At the summit, the panel agreed to remain firmly on Ukraine's side for as long as necessary.

This includes not only financial support but also the promise to deliver further military supplies in 2022. This was probably also decided in a round on Monday, in which Volodymyr Zelenskyy, President of Ukraine, was connected via video.

  • financial budget support of US$29.5 billion

  • humanitarian aid of US$2.8 billion (Germany: US$463 million)

  • Covering Ukraine's urgent military needs

  • long-term support for reconstruction, especially financial

  • Runde commits to "responsible sanctions" against Russia and intends to take further action

G7 summit at a glance: Round agrees to Scholz' climate club idea

Olaf Scholz had called for it, the G7 countries agree: the so-called climate club is taking shape.

This club is to be founded in an “open and cooperative” form by the end of 2022 and will also serve as a “global response to the climate crisis”.

The respective ministers of the federal states are responsible for the development of the concept until the end of the year.

Further partners and international organizations are to be consulted.

The concept at a glance:

  • ambitious climate protection measures

  • industrial transformation through accelerated decarbonization

  • close cooperation and support beyond the G7, especially with emerging/developing countries

Climate crisis: G7 takes further measures to accelerate the international climate protection agenda

In view of the worsening climate crisis, the G7 countries want to accelerate the implementation of the international climate protection agenda.

Regulations on coal-fired power generation are planned, as is support for countries severely affected by climate change.

Germany also reaffirms its goal of contributing at least six billion euros to international climate finance by 2025.

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  • Commitment to decarbonized power supply by 2035

  • G7 commits to ending coal-fired power generation

  • Stronger support for vulnerable countries dealing with damage and losses from climate change

  • further efforts to meet the developed countries' USD 100 billion climate finance pledge

  • Germany reaffirms its intention to contribute at least 6 billion euros to international climate finance by 2025

In addition to photos in front of a mountain panorama, constructive discussions were also held at the G7 summit in Elmau.

Ten core results came together.

© Michael Kappeler / dpa

International hunger crisis: G7 fights against it with "Alliance for Global Food Security".

The hunger crisis in the world has also drastically worsened as a result of the Ukraine war.

Before the summit, for example, Green Party politician Renate Künast was already calling for a rethinking of the food system.

The G7 countries agreed on measures to actively combat the crisis.

It's about financial help, enabling the export of Ukrainian grain and a platform for global cooperation.

  • $4.5 billion in additional funding (Germany commits $476 million in new funding)

  • Supporting the United Nations initiative to bring Ukrainian food to the world market

  • Keeping agricultural markets open and strengthening global food production

  • Building a platform for global cooperation beyond the G7

Controversial topic of energy supply: G7 with a plan to secure it

Despite the sanctions, Russia has probably continued to benefit massively from energy exports to the West.

In Germany, on the other hand, the situation is tense.

Economics Minister Habeck recently declared the alarm level in the gas emergency plan.

The G7 countries therefore want to find a way to end their energy dependency on Russia and at the same time ensure the energy supply in the countries.

Measures should be taken for this.

  • Exit from Russian coal and Russian oil

  • consumer relief

  • Expansion of renewable energies, renewable hydrogen and energy efficiency

  • Examination of price caps to stabilize the energy markets

  • Commitment to end direct international public financing of fossil fuels by the end of 2022 (exceptions possible to protect national security or geostrategic interests)

G7 overview: Runde wants to shape global partnerships for infrastructure and investments

The G7 group also wants to do something for the energy sector and climate protection through global partnerships in the areas of infrastructure and investments.

Investments are planned, as is a so-called “energy transition partnership”.

  • Mobilize $600 billion in public and private investment based on national and regional initiatives over the next five years

  • Joint energy transition partnership with South Africa (Germany contributes a €300 million KfW promotional loan for energy reforms as part of its €700 million contribution)

  • Joint negotiations on further partnerships with India, Indonesia, Senegal, Vietnam

  • Germany pledges an additional EUR 30 million for the Emerging Market Climate Action Fund (EMCAF).

G7 summit 2022 in Elmau: Pictures of the most powerful politicians in the world in front of a spectacular mountain backdrop

View photo gallery

World economy and inflationary risks: G7 coordinates

In the wake of record-breaking global inflation, the G7 round decides to enter into intensive agreements.

They want to coordinate closely with acute economic risk factors.

This is about rising prices as well as increasing debt.

At the same time, the G7 countries want to provide targeted support where necessary.

Developing countries in Africa in particular should be supported.

Together with the OECD, they also want to coordinate security of supply for critical raw materials.

According to the G7 statement, investments should help to build responsible, sustainable and transparent supply chains.

G7 decisions to strengthen global health

The corona pandemic has hit the entire world hard - and has shown how important a global strategy to combat any pandemics and a strong global health network can be.

There were also results from the G7 round on this.

  • Increase vaccine delivery commitment to over 1.175 billion doses by June 2022

  • Agreement on concrete steps to improve pandemic preparedness and response with G7 Pact for Pandemic Readiness

  • Global Fund Against AIDS, Tuberculosis, Malaria Replenishment Support (up to $1.2 billion)

G7 results: Round underpins the basis for value-based action at Schloss Elmau

In talks at Schloss Elmau, the heads of state and government of the G7 round also agreed to give greater consideration to value-based action.

To this end, they want to strengthen equality between women and men as well as trans and non-binary people.

Progress should be checked consistently.

They also want to strengthen cooperation in the fight against disinformation and hybrid threats.

Increased cooperation for the implementation of international cyber standards is also planned.

The international fight against corruption should be given higher priority.

G7 wants to strengthen democracy - together with partner countries

The tenth and last point in the long list of results: the G7 wants to send a joint signal with partner countries to strengthen resilient democracies.

Partner countries include Indonesia, India, Senegal, South Africa and Argentina.

The heads of state of the countries were also guests in the region for the G7 summit.

Together with the G7 countries, the aim is to reaffirm the importance of close cooperation between global democracies and a rule-based international order.

With the announcement of the results, the G7 summit is officially over.

The heads of state have already left.

Upon arrival, an "exclusive group" received gift rucksacks from Bavaria's Prime Minister Markus Söder.

The CSU boss also revealed the content - and got a lot of ridicule.

Source: merkur

All news articles on 2022-06-29

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