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UK 2021 Presidency of the G7
14 July 2022
Type
Written Ministerial Statement
Department
Cabinet Office
At a Glance
Issue Summary
The UK's G7 Presidency in 2021 focused on addressing global challenges such as climate change, vaccine distribution, and economic recovery post-COVID-19.
Action Requested
The minister is providing an update on the outcomes of the G7 Summit in Carbis Bay, Cornwall, highlighting key achievements including commitments to combat climate change, support for education, and international corporate tax reforms. The statement also outlines the costs incurred and benefits accrued by hosting the summit in Cornwall.
Key Facts
- The UK’s Presidency led to major global commitments such as ending financing for coal power, a 30% land and ocean conservation target, and providing 1 billion vaccines to poorer countries.
- More than 90% of world GDP was represented by over 130 countries supporting the new international corporate tax framework.
- The total estimated cost of hosting the G7 Summit in Cornwall was £90.7 million, under budget compared to previous summits.
- Local economic benefits for Cornwall included an estimated minimum of £28.7 million from suppliers and businesses, plus £50 million from increased international travel bookings.
- The summit achieved carbon neutral certification and ISO 20121 sustainable event management standard.
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