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

G-7 Plans 1 Billion Extra Covid Shots to End Pandemic Next Year
·2 min read

(Bloomberg) --

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.

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 exportsG-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 vehiclesLeaders 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.

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