"G-7 Leaders Poised to Turn Spotlight on Climate Finance"

"The world’s richest governments are under mounting pressure to help poor countries fight climate change. At the Group of Seven summit in the U.K., they’ll get a fresh chance to do something about it.

Leaders of the G-7, including U.S. President Joe Biden and German Chancellor Angela Merkel, are meeting in Cornwall, England through Sunday. On the agenda is a discussion of how to help finance a shift to cleaner energy in low-income countries.

Observers are looking for a pledge from the group to steer the recovery from the pandemic in a greener, fairer direction. A draft document seen by Bloomberg News ahead of the summit includes a commitment for each G-7 member to increase its financial contributions to help the poorest countries decarbonize. Specifics are still under discussion. Canadian Prime Minister Justin Trudeau is expected to announce new funding, according to a person familiar with the matter."

Ewa Krukowska and Jess Shankleman report for Bloomberg Green June 10, 2021.

Source: Bloomberg Green, 06/11/2021