Reaction to G7 announcement on green investment

Published: 13th June 2021

Responding to the UK Government’s announcement that G7 leaders will agree to new financing for infrastructure projects in developing countries and an increase international climate finance, Oxfam's climate change lead Nafkote Dabi said:

"This plan could support green development in poorer countries, but it is lacking in detail including on who will foot the bill. It also appears to champion infrastructure to reduce emissions, while many communities are screaming out for support to adapt to the impacts of climate change - an area that remains woefully underfunded.

"G7 leaders have just a few hours left to significantly increase the climate finance that is long overdue. They speak of largesse but their checkbooks have so far remained tightly closed - only the UK and US have committed to increasing their support. It is vital they make new pledges, especially of grant finance for adaptation.

"The leaders are right to emphasize the need to keep global warming below 1.5°C, but this statement is still based on current targets and does not represent more ambitious action. Given that they account for a third of all emissions since 1990, the G7 nations should show leadership by cutting carbon further and faster."

Contact information

Anna Marriott and other Oxfam spokespeople are available for comment and interview at the G7 International Media Centre in Falmouth and around the world.

Kai Tabacek in Falmouth, UK | | +44 (0)7584 265 077
Annie Thériault in Lima, Peru | | +51 936 307 990

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