G7: British report calls for a green and inclusive global recovery

Boris Johnson at Lancaster House in London on May 5, 2021, where G7 foreign ministers are meeting ahead of the summit to be held June 11-13.


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The next G7 summit chaired by British leader Boris Johnson will be held in Cornwall, southern England, from June 11 to 13.

On this occasion, Boris Johnson commissioned an independent report presented on Monday entitled "G7 Leadership for Sustainable, Resilient and Inclusive Economic Recovery and Growth"


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In the report presented this Monday, the famous professor of economics at the London School of Economics, Nicholas Stern recommends that the G7 countries invest 1,000 billion dollars per year by 2030 for a strong and lasting economic recovery after the pandemic. 

One thousand billion dollars per year is 2% of the pre-pandemic GDP of the G7 countries and it is therefore the investment that its seven countries should make if they want growth that can withstand the long term after the Covid-19 crisis. 

Growth that can also cope with a set of intertwined challenges: the health costs of this pandemic but also its devastating social effects on the job market in particular, the rise in inequalities which has disrupted the education of 90% of the world's children and growing threats from environmental degradation and loss of biodiversity. 

See also: The G7 is discussing IMF aid to poor countries in the face of the Covid-19 crisis

A multiplier effect that requires an "

 urgent international effort

 ", underlines the London School of Economics, while responsibly managing the debt.

A mission that will require coordinated efforts

And in terms of climate, we will have to go much further than current promises.

The G7 must “ 

collectively commit to doubling climate finance

 ” before the next Climate Summit next November in Glasgow, Scotland, and make faster progress, particularly on carbon pricing.

And the author concludes: A world that achieves zero emissions and is resilient to climate change would offer the greatest economic and trade opportunity of our time.

► See also: The United Kingdom will host the next G7 in June


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