Page 4 - G7 Summit

None of G7 economies on track to meet 2030 mitigation targets, shows report

None of the G7 members are on track to meet their existing emission reduction targets for 2030, according to a new analysis released on Tuesday. The analysis by Climate Analytics, a global climate science and policy institute, comes ahead of the G7 climate, energy, and environment ministers' meeting in Venaria Reale, Italy, during April 28-30. The G7 collectively aims to achieve a 40-42 per cent emission reduction by 2030 but existing policies suggest that it will likely achieve only 19-33 per cent by the end of this decade, the analysis showed. This is at best around half of what is needed and would lead to greenhouse gas emissions in 2030 exceeding a 1.5 degrees Celsius compatible level by around four gigatonnes of carbon dioxide equivalent. Such a shortfall in ambition does not provide the leadership signal needed from the world's richest countries, making up around 38 per cent of the global economy and responsible for 21 per cent of total greenhouse gas emissions in 2021, the .

'Ready to cooperate': G7 foreign ministers advocate free, open Indo-Pacific

The foreign ministers of the G7 have reiterated their commitment to a free and open Indo-Pacific region and emphasised that a growing China that plays by international rules would be of global interest. Terming China a key interlocutor in addressing global challenges, and that the G7 stands ready to cooperate with Beijing on areas of common interest, a G7 Foreign Ministers' Meeting Communique on Friday said, Our policy approaches are not designed to harm China, nor do we seek to thwart China's economic progress and development. However, we are concerned that China's nonmarket policies and practices are leading to harmful overcapacity that undermines our workers, industries, and economic resilience. A growing China that plays by international rules would be of global interest, the G7 Foreign Ministers of Canada, France, Germany, Italy, Japan, the UK and the US, and the High Representative of the European Union said on the final day of the Ministerial meeting on Foreign Affairs that wa

G7 price cap on Russian oil, recent action by Indian refiners working: US

Since October, the US has enforced the price cap with sanctions including designating in February Sovcomflot (SCF), Russia's state-owned shipping company

Western assets will meet same fate if Russian assets are seized: Kremlin

Leaders of the Group of Seven major industralised nations will discuss a new legal theory that would enable the seizure of frozen Russian assets when they meet in February

G7 announces unified stance on Israel-Hamas war after intensive meetings

Top diplomats from the Group of Seven leading industrial democracies announced a unified stance on the Israel-Hamas war on Wednesday after intensive meetings in Tokyo, condemning Hamas, supporting Israel's right to self-defense and calling for humanitarian pauses to speed aid to desperate civilians in the Gaza Strip. In a statement following two days of talks, the nations sought to balance unequivocal criticism of Hamas' attacks against Israel and the need for urgent action to help civilians in the besieged Palestinian enclave. All parties must allow unimpeded humanitarian support for civilians, including food, water, medical care, fuel and shelter, and access for humanitarian workers, said the statement, hammered out by US Secretary of State Antony Blinken and foreign ministers from Britain, Canada, France, Germany, Japan and Italy. We support humanitarian pauses and corridors to facilitate urgently needed assistance, civilian movement and the release of hostages. The G7 meeting

Hamas war: G7 announces unified stance supporting Israel after Tokyo meet

Top diplomats from the Group of Seven leading industrial democracies announced a unified stance on the Israel-Hamas war on Wednesday after intensive meetings in Tokyo, condemning Hamas, supporting Israel's right to self-defence and calling for humanitarian pauses to speed aid to desperate Palestinian civilians in the Gaza Strip. In a statement, the nations sought to balance criticism of Hamas' attacks against Israel and a push for urgent action to help civilians in the besieged Palestinian enclave in need of food, water, medical care and shelter. US Secretary of State Antony Blinken and foreign ministers from Britain, Canada, France, Germany, Japan and Italy emphasised that they support humanitarian pauses to facilitate urgently needed assistance, civilian movement and release of hostages. There was also condemnation of the rise in extremist settler violence committed against Palestinians, which the ministers said is unacceptable, undermines security in the West Bank, and threatens

Goyal urges G7 members to collaborate to facilitate cross border trade

Commerce and Industry Minister Piyush Goyal on Saturday urged the countries participating in the G7 trade ministers meeting to enhance collaboration on a regulatory framework to facilitate cross border trade. The Group of Seven (G7) trade ministers meeting was held in Osaka, Japan. Under its G7 presidency this year, Japan has invited India, along with a few other invitee countries (Australia, Chile, Indonesia, and Kenya) to participate in the outreach programme held on October 28. In the meeting, Goyal urged the governments to collaborate on a regulatory framework to ease the movement of supply chains and facilitate cross border trade, an official statement said. He said the Covid-19 pandemic and geopolitical events have highlighted the vulnerabilities of the existing supply chains leading to increase in commodity prices and global inflation. The Russia-Ukraine war, conflict between Israel and Hamas and global economic uncertainties are impacting flow of goods across the world. ..

Goyal condemns terrorism, stresses unity with G7 as Israel crisis soars

Goyal's remarks reflect a close and growing interplay between trade and geopolitical tensions around the world, amid concerns that the conflict in the Middle East could spread

Russia will never be seen as reliable energy supplier: US energy official

Russia has played down the impact of Western sanctions, saying they are used by the United States to eliminate Moscow as a competitor in global energy supplies

New Delhi G20 summit has changed the nature and scope of global dialogue

The common concern of nations is international fairness and justice, with Bharat playing a bridging role

G7, G20 nations should collaborate on climate action: Think tank ADBI

A leading Asian think tank Thursday called for G-7 and G-20 member nations to collaborate on climate action by going beyond energy transitions and building climate-resilient infrastructure. In a blog post, the Asian Development Bank Institute said G7 can lead the global efforts to build climate-resilient infrastructure and systems, while G20 nations can focus on embedding sustainability into their urban development and agricultural practices. The ADBI noted G20 members such as China, India, Indonesia still continue to depend on coal-fired power plants for their electricity generation which "evoke concerns about humanity's future in the face of the climate crisis". "Such conflicting signals from major nations render the future of climate action uncertain," it said. The think tank also suggested that the G7 and G20 countries should collaborate at the financial level. "Although developed countries have pledged to provide 100 billion dollars annually in climate finance to developing .

G20 explained: Details on the global bloc, its history & India's presidency

G20 nations account for about 85% of the global GDP, 75% of global exports and around 60% of the global population

BRICS economies catching up with combined GDP of G7 countries: Piyush Goyal

BRICS is the driving force of global growth and the economies in the five-member bloc are catching up with the combined GDP of G7 countries, with significant shifts in the manufacturing process, Union Minister of Commerce Piyush Goyal said here on Monday. He was speaking at the opening ceremony of the BRICS Manufacturing Business Summit. The 21st century has witnessed significant shifts in what we manufacture, how we manufacture and for whom we manufacture, Goyal told delegates from more than 30 countries at the event. Manufacturing is a significant part of trade and industry and plays a pivotal role in the growth of a nation. While its dominance in the economy continues, the 21st century has witnessed a significant shift in what we manufacture, how we manufacture and what we manufacture, he said at the summit. The summit was one of the peripheral events ahead of the 15th BRICS Summit at which the leaders of the member countries - Brazil, Russia, India, China and South Africa - wil

Human rights situation in Tibet 'major concern to us': G7 leaders

"This communique by G7 leaders shows that China's abuses in Tibet have not escaped the attention of some of the most influential leaders on the planet"

Time to reform both Security Council and Bretton Woods system: UN chief

G7 calls for constructive and stable relations with Beijing

'Silly balloon' changed it all: says US President Biden on US-China ties

Meanwhile, China tells tech makers to stop using Micron chips

The end of 'decoupling'?

A more nuanced vision of the future of supply chains and economic security has emerged from the G7 summit

Outreach at Hiroshima

Calibrated diplomacy stood India in good stead

LIVE: Sonia Gandhi, Mallikarjun Kharge pay tribute to Rajiv Gandhi

Catch live updates from across the globe here

What is the 10-point action plan PM Modi gave at G7? All you need to know

The 10-point action plan focuses on checking food wastage, depoliticising global fertiliser supply chains, shifting focus to millets, natural farming and more