G-7 Plans 1 Billion Extra Covid Shots to End Pandemic Next Year

Group of Seven leaders are set to vow to deliver at least 1 billion extra doses of vaccines over the next year to help cover 80% of the world’s adult population, according to a draft communique seen by Bloomberg News.

Ahead of the G-7 summit in the U.K., officials are putting together a document that outlines a plan to end the pandemic by December 2022. The document has yet to be finalized but will form the basis of final-stage talks at the summit of leaders in Cornwall, southwestern England, starting Friday.

G-7 Plans 1 Billion Extra Covid Shots to End Pandemic Next Year

Here are the other highlights:

  • G-7 pledge to better tackle forced labor in global supply chains, including in the solar and garment sectors and involving state-sponsored forced labor of minorities. While that section does not mention China by name, it follows global criticism of its treatment of Uyghur Muslims in Xinjiang.
  • Calls for a fresh, transparent, WHO-convened study into the origins of the coronavirus.
  • There is a call for Russia to hold to account groups within its borders who conduct ransomware attacks, use virtual currencies to launder ransoms, and carry out other cybercrimes.
  • The group welcomes the recent talks toward a full resumption of the 2015 Iran nuclear deal, while condemning its use of proxy forces and non-state armed actors.

On fiscal policy, trade and travel:

  • A commitment to end unnecessary trade restrictions on vaccine exports
  • G-7 stress need to ensure long-term sustainability of public finances once the recovery is firmly established.
  • G-7 support common standards for international travel, including recognizing vaccine status certificates across countries.

On climate change, the draft agreement includes:

  • There is a commitment to accelerating the shift to zero-emission vehicles
  • Leaders haggling over climate funding but vow to step up and to try and meet a $100 billion target, without giving details of how to get there. They will pledge new funding to support green transitions in developing countries.
  • G-7 recognizes the potential of carbon markets and carbon pricing to drive emission reductions.

©2021 Bloomberg L.P.

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