The leaders of the G-7 industrial nations met over the June 6-8 weekend and discussed major issues affecting the world. Germany, Britain, the US, Canada, Japan and Italy agreed to cut greenhouse gases by phasing out the use of fossil fuels and to end extreme poverty and hunger.
"When it comes to the key challenges of our time, America and our closest allies stand shoulder to shoulder," said President Barack Obama.
On the final day of talks in a Bavarian castle, this summits host German chancellor Angela Merkel, said the group had committed themselves to “decarbonise the global economy in the course of this century.
The G-7 endorsed the 2014 United Nations climate change panel objectives that outlined measures to meet in order to avoid dangerous increases in the Earth’s temperature.
Merkel said the leading industrialized countries were committed to raising $100 billion in annual climate financing by 2020 from public and private sources.
The G-7 leaders will work towards a long-term goal of reducing global emissions of greenhouse gases between 40 and 70 percent by 2050, signaling that they are united in support of a significant climate change accord in Paris in December of this year.
“Urgent and concrete action is needed to address climate change,” the leaders said in their statement, expressing support for adopting an “ambitious, robust” climate deal in Paris.
Reacting to the announcement, the European Climate Foundation described the agreement as historic, saying it signaled “the end of the fossil fuel age” and was an “important milestone on the road to a new climate deal in Paris.”
The leaders of Germany, Britain, the US, Canada, Japan and Italy also signed up to initiatives to work for an end to extreme poverty and hunger, reducing the number of people living in hunger and malnutrition by 500 million, and improving the global response to epidemics.
The G-7 would work on initiatives to combat disease, and help countries around the world react to epidemics. They will also assist a fund within the World Bank dedicated to tackling health emergencies.
Russia was not welcome at the summit because of their aggressive tactics in the Ukraine, which were also discussed.