“Commitments on tax, debt and climate justice don’t go far enough” – Bond reacts to G7 summit

Today, 20 May, at the G7 summit in Hiroshima, G7 leaders released their official communique acknowledging the dire state of the global economy and economic challenges the world is facing, in addition to the need to achieve the Sustainable Development Goals (SDGs) to reduce poverty and tackle climate change.

In reaction to the communique and the announcements made at the G7 summit, Stephanie Draper, Chief Executive of Bond, said:

“We welcome the G7 leaders’ acknowledgment of the dire state of the global economy and the challenges faced by people globally, as well as their recognition of the Sustainable Development Goals (SDG) and commitment to locally-led development. But this needs to be matched by bold and urgent new commitments, solutions and actions that go beyond reconfirming old commitments and doing more of the same things that have contributed to the situation we are in. Commitments on tax, debt and climate justice don’t go far enough to deliver the SDGs by 2030.

The scale of the interlinked crises of debt, conflict, climate change, hunger and poverty require an ambitious re-design of institutions, policies, and partnerships if we are to deliver transformative and sustainable change.  As we have recently seen, when there is political will, bold decisions and actions can be made and billions of pounds can be mobilised at speed.”