On June 11th-13th the Group of Seven (G7) major developed economies—the US, Canada, the UK, France, Germany, Italy and Japan—met for the 47th G7 summit and the first in-person summit since 2019 in Cornwall, UK. The purpose of the G7 summit 2021 was focused on addressing the Covid-19 crisis, climate change, global taxation and, unlike previous years, a more co-ordinated stance on China. G7 summit leaders presented a much more cohesive front than in previous meetings, but notable differences remain on several important issues.

The tone of the G7 meeting was remarkably different from the 2018 summit, where the then US president, Donald Trump, sparred with his counterparts and refused to sign the final communiqué.

Climate change

G7 nations are moving closer on their climate strategies, but differences over key details will prevent more concerted action for now.

Building back better, and greener

G7 countries will channel more international development finance into infrastructure and climate change projects, but they refused to label the initiative as a direct rival to China’s Belt and Road Initiative (BRI).

Shifting approach towards China

The G7 conference official communiqué directly mentioned competition with China for the first time—a notable shift from previous summits, although countries differ in their approach.

Global Covid-19 vaccine rollout

G7 countries are ramping up their vaccine diplomacy efforts; however, the implementation of pledges will remain to be seen, and G7 states have lost the public relations battle to China and Russia.

Global tax agreement remains elusive

Leaders endorsed the 15% global minimum corporate tax plan, but major obstacles to its implementation remain.

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