SUNDAY, THE FIRST DAY OF THE SUMMIT
I. Working session “Shaping the global economy”
Participants: G7 leaders
War, supply chain problems, raw material shortages, inflation and the pandemic: the global economy is under greater strain than at any time since the financial crisis. There was much to discuss for the G7 on the first day of their Summit at Schloss Elmau. “Economic stability and transformation” – this is one of the goals of the German G7 Presidency.
At their first working session, the G7 leaders discussed global economic issues. Earlier, Federal Chancellor Olaf Scholz said that all the G7 countries were concerned about the crises they currently faced – falling growth rates, rising inflation, raw material shortages and supply chain disruption.
This is another reason why unity and resolute action are so important. “The fact that we’re in agreement will enable us to tackle the risks in a coordinated way, working together to mobilise investments and supply chains as needed,” said Federal Chancellor Olaf Scholz.
II. Working session
“Promoting partnerships for global infrastructure and investment”
Participants: G7 leaders
Sustainable infrastructure is a key requirement for successful adaptation to climate change. This is why the German G7 Presidency has continued to develop the “Partnership for Infrastructure and Investment” established in 2021. The focus is on promoting long-term infrastructure partnerships with ambitious partner countries.
The G7 made it clear at its second working session that it aims to make major investments in global infrastructure. Together with US President Biden, Federal Chancellor Scholz presented the Partnership for Global Infrastructure and Investment. To this end, the G7 partners plan to mobilise up to 600 billion US dollars in public and private investments over the next five years.
“We have established a G7 structure for cooperation and concrete partnerships on climate and health. In order to structure our cooperation, we are bringing our development institutions together with multilateral banks and the private sector; we are setting up partnerships and national platforms. This is a major change in the way we collaborate and we are fully committed to it.”
Facts and figures:
- Germany is offering South Africa a KfW development loan of 300 million euros under the Joint Energy Transition Partnerships (JETP) to finance the energy transition.
- Germany has also pledged an additional 30 million euros for the “Emerging Markets Climate Action Fund” (EMCAF) to mobilise private investment in sustainable infrastructure.
- In addition, Germany is part of the European Global Gateway Initiative, which aims to mobilise up to 300 billion euros in public and private investment for global infrastructure and connectivity by 2027.
The current geopolitical situation is one of the factors behind the G7’s work to promote infrastructure. Scholz said this was why the G7 had talked about “how our global investments in climate-neutral and low-carbon energy can help us as a temporary response to Russia’s weaponising of energy.”
III. Working session
“Cooperation on foreign and security policy”
Participants: G7 leaders
The G7 Summit offers a unique informal platform to provide a key impetus in tackling challenges in the area of foreign and security policy. The Russian war of aggression against Ukraine has also shown how vital it is to maintain close and trusting coordination within the G7 group on a continuous basis.
In the evening, the G7 leaders talked “at great length and very confidentially” about foreign and security policy issues, according to Federal Chancellor Scholz, Ukraine and Russian aggression were key issues, but not the only ones. As Federal Chancellor Scholz emphasised even before the start of the working session: “It is up to us to develop a security architecture that ensures peace rather than making the world an increasingly dangerous place.”
MONDAY, THE SECOND DAY OF THE SUMMIT
IV. Working session
“The world in conflict: exchange on Ukraine”
Participants: G7 leaders with President Zelensky
The Russian war of aggression against Ukraine has been the focus of the G7 Presidency for weeks. On the second day of the Summit at Schloss Elmau, the main focus was on further expanding joint efforts to end the war, providing support for Ukraine and combating the global consequences of the war.
The G7 again strongly condemned Russian aggression and pledged to continue to provide financial, humanitarian, military and diplomatic assistance for Ukraine for as long as necessary. The economic sanctions imposed on Russia are to be tightened further and Russian sources of income – including from gold – are to be reduced. Those responsible for war crimes and all those who profit illegitimately from the war and therefore exacerbate the global food crisis are also to be targeted with sanctions. “We will continue to increase the pressure on Putin,” said Federal Chancellor Scholz. “This war must end.”
G7 Statement on Support for Ukraine (27.06.2022)
Annex to G7 Statement on Support for Ukraine (27.06.2022)
V. Working session
“Investing in a better future: climate, energy, health”
Participants: G7 leaders with partner countries and international organisations
Challenges such as the climate crisis and the COVID-19 pandemic can only be overcome through joint global efforts. For this reason, the G7 will intensify its commitment to a better future – by establishing climate and energy partnerships, strengthening the international health architecture and ensuring sustainable global vaccine equity.
The G7 is committed to the fight against climate change but at the same time seeks to guarantee a secure supply of energy. According to a jointly issued statement, the goal is to “accelerate a clean and just transition towards climate neutrality, while ensuring energy security”. Partnerships dedicated to building infrastructure and investments could also contribute to the objectives of an “open and inclusive Climate Club”. The statement was also endorsed by the G7 partner countries Argentina, India, Indonesia, Senegal and South Africa
G7 Chair's Summary:Joining Forces to Accelerate Clean and Just Transition towards Climate Neutrality
VI. Working session
“Strong together: food security and gender equality
Participants: G7 leaders with partner countries, international organisations and the Gender Equality Advisory Council
The G7 seeks to strengthen democracies, secure global food supplies and promote gender equality. For this reason, its agenda includes measures to curb the global food crisis and the monitoring of G7 gender equality agreements.
The G7 and the five guest countries – Argentina, India, Indonesia, Senegal and South Africa – emphasised their determination to work together to promote a rules-based international order. The leaders said they wished to strengthen the resilience of their democracies and work towards “equitable, inclusive and sustainable solutions to global challenges” – including climate change, food security and the COVID-19 pandemic.
In view of the altered geopolitical situation and the fact that democratic systems were under threat worldwide, they commit themselves to defending peace, human rights, the rule of law, human security and gender equality. As Federal Chancellor Scholz said at the end of the second day of the Summit: “It’s good to know we have friends and allies in this world”.
2022 Resilient Democracies Statement
TUESDAY, THE THIRD DAY OF THE SUMMIT
VII. Working session
“Shaping international cooperation: multilateral and digital order”
Participants: G7 leaders
On the last day of the Summit, the focus was on issues of multilateral cooperation. Cooperation with all partners – especially within the G20 – is at the core of the G7’s work. The goal here is coordinated action based on shared democratic values and rules-based digital governance.
At the end of the Summit, the G7 showed renewed determination to join forces with its partners in defending, universal human rights and democratic values, the rules-based multilateral order and the resilience of democratic societies. Key messages came out of the Summit on the last day, too:
in response to the pressing hunger crisis, the G7 created the “Alliance for Global Food Security”, pledging an additional 4.5 billion US dollars to protect the most vulnerable. At the same time, the G7 condemned Russian aggression against Ukraine, which is dramatically exacerbating the global food crisis.
Furthermore, the G7 explicitly welcomed Federal Chancellor Olaf Scholz’s idea of an open, cooperative Climate Club and intends to establish this by the end of 2022. The common goal is to drive urgent, ambitious and inclusive action to accelerate the implementation of the Paris Climate Agreement.
G7 Leaders’ Communiqué – Summary
G7 Statement on Global Food Security (28.06.2022)
G7 Statement on Climate Club
Time for bilateral talks: In addition to joint sessions and working lunches, the informal G7 format also allows for bilateral talks. The leaders gladly took the opportunity to exchange views in private and agree on a joint course of action to solve urgent problems.