Prime Minister Boris Johnson poses for a family photo with Canada's Prime Minister Justin Trudeau, France's President Emmanuel Macron, German Chancellor Angela Merkel, Italy's Prime Minister Mario Draghi, Japan's Prime Minister Yoshihide Suga, European Commission President Ursula von der Leyen and European Council President Charles Michel during the G7 Leaders summit in Cornwall, United Kingdom on June 11, 2021. Photo Credit: Anadolu Agency via Getty Images
Environment UKGlobal Leaders Are Pro-Nature, and They’re Proving It
The G7 summit in London, United Kingdom saw the seven member countries push for climate transparency from businesses, in order to evaluate the financial impact of the climate crisis and to help nations be carbon neutral by 2050.
“Having high quality and comparative data on the climate-related risks businesses take is crucial if we want to achieve carbon neutrality,” says Chris Cummings, CEO of Investment Association, the trade body that represents UK investment managers. Investors are even pushing for stricter regulations regarding climate risk divulgation.
The G7 countries – consisting of the USA, UK, Canada, Japan, France, Germany, and Italy – consulted the climate-related financial disclosures that were put together in 2017 under the aegis of the G20, an international forum for governments and central banks from 19 nations and the EU. Mandatory disclosures would include CO2 emissions or investment projects and should concern all large commercial companies. The next step is to work with central banks and regulators to “disengage fossil fuels financing”, says David Barnes of Positive Money.
