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G7 commits to transform their economies to promote sustainable development.

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According to a communique released by the G7, the Ministers of the G7 group have agreed to transform their economies to promote sustainable development. The document in question was released after the Ministers responsible for Climate and Environment form the G7 nations met together in a virtual conference held on 20th May 2021.

They pledged to transform their economies to promote sustainable development by stating “We will do this by building back better from the pandemic, and we stress our determination to put climate, biodiversity, and the environment at the heart of our COVID-19 recovery strategies and investments. In doing so, we will transform our economies to promote sustainable development”.

They also pledged to conserve the world’s natural rainforests and other natural habitats by vowing to conserve, protect and to restore those biospheres to as they were before. They also pledged to commit to a decarbonization plan so that further damage to natural biospheres are minimized.

The G7 also pledged to increase their financial commitment to support developing countries by helping them promote sustainable development. They G7 is currently committed to raise $100 million-per-annum to finance sustainable development and climate change related projects in developing countries.

The current pandemic has caused many developed and developing countries to re-analyze their economies and has allowed them to recognize the importance of global cooperation in tackling climate change.

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Business

G7 fail to reach consensus on phase-out of coal.

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The G7 has been left stranded on coal as the U.S. and  Japan blocked a deal to end the use of coal in the G7 countries.

Following days of negotiations between the world’s richest and most advanced countries, the G7 leaders’ summit in Cornwall, England failed  as the decision to set a date to phase-out the use of coal was blocked by the U.S. and Japan.

White House Press Secretary Jen Psaki stated that they sought “language that aligns with the president’s domestic commitments, including a carbon pollution free power sector by 2035”.

According to an EU official, majority of the G7 members were willing to back the phase-out of coal in the 2030s. But Japan which has changed its views on coal following the Fukushima nuclear accident remains in favor of coal.

Criticism has been targeted at the G7 for their lack of commitment on such critical issues while Russia and China has made commitments to go carbon free. China is set to limit the use of coal starting this year and go carbon neutral by 2060.

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COVID 19

G7 to donate 870 million doses of COVID-19 vaccine to COVAX.

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The leader of the G7 countries have finally reached a consensus on the agreement to share vaccines with the rest of the world. According to the agreement, the G7 will be donating 870 million doses of the COVID-19 vaccine to the WHO.

It has been reported that of the 870 million doses, 435 million doses would be delivered to the WHO by the end of 2021.

WHO has confirmed the G7’s commitment in a statement. According to the WHO, the G7 countries will donate a total of 870 million doses of COVID-19 vaccines to the COVAX program.

The COVAX program is a WHO led initiative to make COVID-19 vaccine accessible to even the poorest countries.

While the international community has welcomed the decision, they are also calling for the continued donations of vaccines and for the licensing not-for-profit production of the vaccine by other countries. This comes as several countries are facing the worst waves of COVID-19 while the COVAX program is running low on its supply of vaccines.

WHO Director-General Tedros Adhanom Ghebreyesus stated that “any other countries are now facing a surge in cases — and they are facing it without vaccines. We are in the race of our lives, but it’s not a fair race, and most countries have barely left the starting line, we need more, and we need them faster.”.

 

Source: Xinhua News Agency.

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MP Ahmed Shiyam- fortunate to have experienced President Yameen’s developments, now critical in combating COVID-19.

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Opposition Vice-President Ahmed Shiyam has stated that  it is  fortunate to have experienced President Abdulla Yameen’s development projects which are currently playing a  critical role in the fight against COVID-19. This comes following the current administration’s decision to convert the nation’s largest distribution center developed under former President Abdulla Yameen’s administration.

In a tweet by his official twitter account, MP Ahmed Shiyam noted that the largest distribution and warehouse center in Maldives, which was developed  by former President Abdulla Yameen  is now being converted to a COVID-19 hospital.

He continued on to state that “We were very  fortunate to have experienced President Yameen’s tenure of HOPE that we now have  such facilities  at this trying times to help save many lives.”.

The Distribution center constructed under former President Abdulla Yameen’s administration contains 14 units dedicated for wholesale businesses, 13 units for industrial businesses and 20 units for office space. In addition to this, the facility also contains a convenience store and a restaurant.

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