The G7’s shared vision of a stable, prosperous, and peaceful future for all has never been more important. Given increasing armed conflict and climate change, to food and energy insecurity, and pandemic, today’s intersecting global crises call for more international collaboration.
Today, during the second day of the G7 Summit in Hiroshima, Japan, Prime Minister Justin Trudeau made a series of new investments to help address the needs of people in emerging economies and developing countries. The Prime Minister alongside fellow G7 Leaders, Leaders of invited guest countries, and Heads of guest international organizations highlighted the need for ambitious and coordinated action to advance the Sustainable Development Goals (SDGs) – a path forward for Canada and the world that leaves no one behind.
In discussions about the state of the global economy, Prime Minister Trudeau underscored how Canada is accelerating progress on the SDGs by investing in solutions that mobilize finance for quality infrastructure, enhance energy, food and nutrition security, safeguard global health, and promote gender equality, all while tackling the crises of climate change, biodiversity loss, and pollution. He stressed the importance of working together to reform the international financial architecture to improve access to financing for emerging economies and developing countries.
During a side event for the G7 Partnership for Global Infrastructure and Investment (PGII), Prime Minister Trudeau announced a contribution of $283 million to the High Impact Partnership on Climate Action (HIPCA) at the European Bank for Reconstruction and Development. This investment makes Canada HIPCA’s largest donor to date and will help countries build their clean economies.
The Prime Minister also announced targeted investments in modern, climate-smart, resilient infrastructure, including a contribution of $42 million for the Mirova Gigaton Fund and a loan of $10 million from FinDev Canada - Canada’s own development finance institution - to Maranatha Energy Investment S.R.L to construct and operate the first phase of a solar plant in the Dominican Republic. The Prime Minister also highlighted FinDev Canada’s recent loan to Genneia of $54 million to support clean energy capacity in Argentina through a solar and wind energy project.
G7 Leaders issued a statement on economic resilience and economic security. Prime Minister Trudeau highlighted Canada’s important role in global supply chain resiliency and critical minerals as we strengthen our clean economies.
Russia’s full-scale invasion of Ukraine is exacerbating an already-strained global food system. Prices of food and fuel are rising and creating further insecurity for people around the world. Recognizing that access to affordable, safe, nutritious, and adequate food is a basic human need, G7 leaders and leaders of invited guest countries launched the Hiroshima Action Statement for Resilient Global Food Security to address needs today and into the future. Canada continues to make significant investments in resilient, sustainable, and inclusive agriculture and nutritious food systems. Today, Prime Minister Trudeau announced $100 million through the Canada-International Finance Corporation Facility for Resilient Food Systems to enhance food security and food system resilience in developing countries.
The Prime Minister also announced a $50 million investment in agriculture and food systems under the Climate Smart Food Systems Fund, which will provide targeted loans and technical assistance for up to 30 agricultural small and medium enterprises in developing countries to support climate-smart interventions, adapt to climate change, and make food systems more resilient to crises and shocks.
During the Summit, Prime Minister Trudeau welcomed the significant global progress made to address COVID-19, and agreed with leaders that we must not let up our efforts to better prepare for the next pandemic. Canada has been a leading partner in COVID-19 response and recovery, contributing over $3.5 billion in international assistance since February 2020, including $2.1 billion to meet its fair share in support of the ACT-Accelerator.
Canada continues to put women and girls at the centre of our efforts to ensure more inclusive and long-lasting solutions to the needs of low- and middle-income countries. Building on the ongoing close collaboration of G7 partners to promote gender equality, Prime Minister Trudeau announced $4 million to the Women’s Peace and Humanitarian Fund, including $1 million to the Haiti Appeal, to respond to the crisis and the distinct needs of women and girls, and support their participation in peace processes and agreements. Canada will also commit $220,000 for the Global Fund for Survivors of Conflict-Related Sexual Violence to ensure women and girl survivors can meaningfully participate in implementation of the Yazidi Survivors Law in Iraq.
Climate change disproportionately affects the world’s most vulnerable populations, and Prime Minister Trudeau reaffirmed Canada’s commitment to strengthening the implementation of the Paris Agreement in this critical decade, and to chart a path toward net-zero emissions by 2050. G7 Leaders issued a Clean Energy Economy Action Plan and the Prime Minister encouraged G7 Leaders and guest countries to join Canada’s Global Carbon Pricing Challenge to triple the global coverage of carbon pricing systems, which fight climate change and can help make life more affordable for people, by 2030.
As part of Canada’s continued leadership on nature, Prime Minister Trudeau announced that Canada will host the Global Environment Facility’s Seventh Assembly in Vancouver, British Columbia, from August 22-26, 2023, bringing together prominent officials, thought leaders, Indigenous Peoples, and international organizations to work together on the world’s most pressing environmental issues.
While in Hiroshima, Prime Minister Trudeau also declared Canada’s intent to rejoin the International Tropical Timber Organization (ITTO), and welcomed the formalization of diplomatic relations with the Cook Islands – current chair of the Pacific Islands Forum, a significant step in advancing Canada’s engagement and commitment in the Indo-Pacific region.
During the Summit, G7 Leaders issued a communiqué in which they agreed: to support Ukraine for as long as it takes in the face of Russia’s illegal war; strengthen disarmament and non-proliferation efforts; coordinate our approach to global economic resilience and security; and drive the transition to clean energy economies of the future.
Quote
“For nearly 50 years, the G7 has demonstrated that the international community is strongest when we act in unison. At this G7 Summit and beyond, Canada stands ready to work together to build a better world – one that is rooted in a free and open international order based on the rule of law, with a clean and healthy environment, and strong economies that work for everyone.”
Quick Facts
- In 2022, Prime Minister Justin Trudeau was appointed as one of the co-chairs of the United Nations (UN) Secretary General’s SDG Advocates group, where he joins 16 inspiring, influential people raising global awareness of the SDGs and the need for accelerated action.
- In February 2021, the Government of Canada released the Moving Forward Together: Canada’s 2030 Agenda National Strategy, which aims to create and foster a whole-of-society approach to accelerate progress on the SDGs, in Canada and abroad. Canada continues to take a gender-responsive approach to the implementation of the 2030 Agenda through its Feminist Foreign Policy, including the Feminist International Assistance Policy.
- In 2021-2022, 99 per cent of Canada’s bilateral international assistance either targeted or integrated gender equality.
- At the 2022 G7 Summit, Canada committed to working with G7 Leaders and international partners to close the infrastructure financing gap by aiming to mobilize global investments of up to $600 billion (USD) by 2027, and strengthening global partnerships for public and private investments in sustainable, inclusive, resilient and quality infrastructure.
- The High Impact Partnership on Climate Action (HIPCA) is the EBRD’s first multi-donor partnership for accelerating climate action and environmental co-benefits and fulfils an important part of Canada’s $5.3 billion international climate finance commitment over the 2021-2026 period.
- The Global Environment Facility is the largest multilateral source of global environmental financing, and is Canada’s primary mechanism for enabling developing countries to address challenges including biodiversity loss, climate change, pollution, and threats to ocean health.
- As part of its G7 Presidency, Japan invited the Leaders of Australia, Brazil, Comoros, Cook Islands, India, Indonesia, the Republic of Korea, and Vietnam to participate as guests in the Hiroshima Summit. Japan also invited the Heads of the United Nations (UN), International Energy Agency (IEA), International Monetary Fund (IMF), Organization for Cooperation and Economic Development (OECD), World Bank, World Health Organization (WHO), and World Trade Organization (WTO).
Related Products
- Addressing the needs of emerging economies and developing countries
- G7 Hiroshima Leaders’ Communiqué (in English only)
- Hiroshima Action Statement for Resilient Global Food Security
- G7 Leaders’ Statement on Economic Resilience and Economic Security
- G7 Clean Energy Economy Action Plan