An aerial photo of the nearby town of St Ives close to The Carbis Bay Estate hotel and beach set to be the main venue for the upcoming G7 summit is seen from a drone on June 2, 2021 in St Ives, Cornwall.
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LONDON – The leaders of the group of seven economies are holding a three-day summit in the UK with climate change, the economy, the coronavirus pandemic and geopolitics becoming important talking points.
CNBC has a quick guide to everything you need to know about the summit:
From Friday to Sunday, the leaders of seven of the world̵
Leaders will discuss common challenges, from pandemics and vaccines to climate change and “ensure that people everywhere can benefit from open trade, technological change and scientific discovery”, according to the British government.
It is the first G-7 summit in person in almost two years. Britain wants “leaders to take the opportunity to build better from the coronavirus and unite to make the future fairer, greener and more prosperous.”
The Cornish Arms public house decorated with the flags of the G-7 countries near the venue for the upcoming summit for the group of seven leaders.
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Who wants to be there?
The big names at the summit are undoubtedly the leaders of the G-7, made up of Britain, Canada, France, Germany, Italy, Japan and the US The EU, which sends the Presidents of the European Commission and the European Council also participating.
The summit is seen as one of the few forums where the world’s most influential societies and advanced economies come together for close discussions.
This year, Australia, India and South Korea have been invited to participate as host countries and “to deepen the expertise and experience around the table,” the British government said.
The leaders attending the summit represent over 60% of the people living in democracies around the world, represent over 2.2 billion people and over half of the world economy.
US President Joe Biden (L) and US First Lady Jill Biden are leaving Air Force One upon their arrival at the Royal Air Force Mildenhall, England on June 9, 2021 ahead of the three-day G-7 Summit.
BRENDAN SMIALOWSKI | AFP | Getty Images
Where is it?
The United Kingdom is hosting the summit because it holds the rotating presidency of the G-7. This year’s meeting takes place in the coastal town of Carbis Bay in Cornwall, the most south-western region of England and a popular holiday destination for the British.
G-7 executives meet at Carbis Bay Hotel & Estate with security at the location and surrounding area as close as you would expect for global executives. A high security zone has been established around the hotel and the perimeter of Tregenna Castle, where G-7 leaders will be staying, with concrete barriers and armed police on duty.
Entire streets in Carbis Bay and nearby St. Ives has seen security fences erected and an influx of police with more than 5,500 officers deployed to Carbis Bay and St. Louis. Ives. Search and security checks as well as widespread security fences blocking entire streets have led to some discontent among locals who say they have become “cages,” local media reports.
The Carbis Bay Estate Hotel and Beach, the main venue for the upcoming G7 Summit, will be seen from the beach on June 2, 2021 in St Ives, Cornwall.
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Despite the beautiful coastline and countryside that will serve as the backdrop for the collection, Cornwall is one of the poorest regions in the UK and is heavily dependent on agriculture and seasonal tourism.
Unemployment more than doubled in the region during the pandemic, and the British government has pledged millions of pounds for long-term investment in the region as part of a G-7 legacy. It is hoped that the high-profile event and increase in future tourism will lead to an economic boost of around £ 50 million ($ 70.5 million) for Cornwall.
Police officers patrol the beach in front of the Carbis Bay Hotel, hosting the G7 Summit Conferences on June 3, 2021 in Carbis Bay, Cornwall.
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What are the talking points?
The UK is hosting the G-7 at a critical time for the world as major economies seek to vaccinate their way out of the pandemic and return to address other important and urgent issues, such as promoting free trade and combating climate change ahead of COP26 The UN climate conference in November, which Britain will also host.
At the G21 summit in 2021, the United Kingdom hopes to unite the group under the slogan “build better” following the end of the Covid-19 pandemic. It wants the G-7 to do this by:
- Leading the global recovery from coronavirus while strengthening our resilience to future pandemics (UK is also expected to urge G-7 leaders to make concrete commitments to vaccinate worldwide against coronavirus by the end of 2022).
- Promoting our future prosperity by fighting for free and fair trade.
- Managing climate change and conserving the planet’s biodiversity.
- Advocates our common values.
Russia and China are widely expected to be hotspots at the G-7 summit amid persistent dissatisfaction with Russia’s destabilizing actions (and the prospect of more sanctions against the country) and China’s trade policy.
Both countries are likely to take part in discussions at other summits close to the G-7: There is a meeting of NATO allies in Brussels on Monday, an EU-US summit on Tuesday, and then US President Joe Biden will travel to Geneva for to meet Russian President Vladimir Putin on Wednesday.
US President Joe Biden is preparing to speak to US Air Force personnel and their families stationed at the Royal Air Force Mildenhall, Suffolk, England on June 9, 2021 ahead of the three-day G-7 Summit.
Brendan Smialowski | AFP | Getty Images
Will there be any action?
Like other major meetings between world leaders, G-7 summits can often be criticized as nothing more than a talking store for change that is never realized.
The absence of powers such as China and Russia (which was suspended from the group and then even left after its annexation of Crimea in 2014) has also led to criticism that the group excludes countries it must involve in the decision-making process on world affairs.
Others, who are more generous with the format, say it is an opportunity for discussion and decision on global collective action and cooperation.
The British Prime Minister Boris Johnson defended the format ahead of the summit, commenting that “as the most prominent group of democracies, the G7 has long been the catalyst for decisive international action to tackle the biggest challenges we face.”
The Prime Minister of the United Kingdom Boris Johnson is chairing a session of the UN Security Council on Climate and Security at the Foreign, Commonwealth and Development Office on 23 February 2021 in London, England. The UK holds the rotating presidency of the Security Council and is the host nation for this year’s COP26 UN climate summit in Glasgow.
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“From canceling debt in developing countries to our universal condemnation of Russia’s annexation of Crimea, the world has looked to the G7 to use our common values and diplomatic powers to create a more open and prosperous planet.”
“Coronavirus is without a doubt the most destructive force we have seen in generations and the greatest test of the modern world order we have experienced. It is only true that we are approaching the challenge of building better by uniting with a spirit of openness to create a better future, ”Johnson said.