A guide to everything you need to know

Aerial photos of the Carvis Bay Estate Hotel and the town near St. Ives near the beach will be the main venue for the next G7 Summit and will be seen from the drone at St Ives in Cornwall on June 2, 2021. ..

Matt Cardy | Getty Images News | Getty Images

London — Group of Seven Economy leaders are hosting a three-day summit in the UK, where climate change, the economy, the coronavirus pandemic, and geopolitics are key issues.

CNBC has all the quick guides you need to know about the summit.

What’s wrong?

From Friday to Sunday, leaders from seven of the world’s most advanced economies will meet in Cornwall, South West England.

According to the British government, leaders have common challenges, from pandemics and vaccines to climate change and “to enable people around the world to benefit from open trade, technological change and scientific discoveries.” Will be discussed.

This is the first face-to-face G7 summit in almost two years. The UK wants “leaders to seize the opportunity to build better from the coronavirus and unite to make the future fairer, more environmentally friendly and more prosperous.”

A Cornish Arms pub adorned with the flags of the G7 countries near the venue of the upcoming Group of Seven Leaders Summit.

Bloomberg | Bloomberg | Getty Images

Who is there?

The big name of the summit is undoubtedly the leader of the G7, which consists of the United Kingdom, Canada, France, Germany, Italy, Japan and the United States. The EU dispatches the Commission and the Chair of the Commission. The European Council will also attend.

The summit is considered one of the few forums where the world’s most influential societies and developed countries meet for intimate discussions.

This year, Australia, India and South Korea were invited as guest countries to “deepen their expertise and experience around the table,” the British government said.

Leaders attending the summit represent more than 60% of democratic people around the world, more than 2.2 billion people, and more than half of the world economy.

US President Joe Biden (L) and First Lady Jill Biden will disembark from Air Force One upon arrival at the Royal Air Force Milden Hall in the United Kingdom on June 9, 2021, prior to the three-day G7 Summit.

Brendan Smialowski | AFP | Getty Images

where is it?

The main venue for the upcoming G7 Summit, Carvis Bay Estate Hotel and Beach, will be seen from the beach in St Ives, Cornwall, on June 2, 2021.

Matt Cardy | Getty Images News | Getty Images

Despite the beautiful coastline and countryside behind the rally, Cornwall is one of Britain’s poorest regions and relies heavily on agriculture and seasonal tourism.

During the pandemic, the unemployment rate in the region more than doubled, and the British government has promised millions of pounds worth of long-term investment in the region as part of the G7’s legacy. High-profile events and future tourist growth are expected to provide an economic boost to Cornwall for around £ 50m ($ 70.5m).

Police officers will patrol the beach in front of the Carvis Bay Hotel, the venue for the G7 Summit meeting in Carvis Bay, Cornwall, on June 3, 2021.

Hu Hastings | Getty Images News | Getty Images

What is the point of the story?

Britain is pushing the G7 at a critical time for the world as major economies move out of the pandemic and return to tackling other important and pressing issues such as promoting free trade and combating climate change prior to COP26. I am hosting it. United Nations Climate Change Conference to be held in November. It will also be hosted in the UK.

At the 2021 G7 Summit, the UK wants to unite the group under the slogan “Build Better” after the end of the Covid-19 pandemic. It wants the G-7 to do this:

  • Leading a global recovery from the coronavirus while strengthening its resilience to future pandemics (the UK will also be part of a concrete effort to vaccinate the world with the coronavirus by the end of 2022. Expected to ask G7 leaders).
  • We promote our future prosperity by advocating free and fair trade.
  • Addressing climate change and conserving global biodiversity.
  • Defend our common values.

Russia and China are widely expected to be at issue at the G7 summit amid Russia’s volatile behavior (and prospects for further sanctions on the country) and continued dissatisfaction with China’s trade policy.

Both countries may appear in discussions at other summits that closely follow the G7. There will be a NATO ally meeting in Brussels on Monday, an EU-US summit on Tuesday, followed by US President Joe Biden heading to Geneva. Russian President Vladimir Putin on Wednesday.

US President Joe Biden prepares to address US Air Force personnel and their families stationed at the Royal Air Force Mildenhall in Suffolk, England, on June 9, 2021, prior to the three-day G7 summit. I am.

Brendan Smiarovsky | AFP | Getty Images

Is there any action?

Like other major conferences of world leaders, the G7 Summit is often criticized as merely a store of discussions for change that will never be realized.

The absence of large powers such as China and Russia (suspended from the group after the 2014 Crimean crisis and then left) also excludes countries in which the group should be involved in world affairs decision-making. It led to the criticism.

Others who are generous with this format say it is an opportunity for discussion and decision-making on global collective action and cooperation.

British Prime Minister Boris Johnson defended the format prior to the summit, saying, “As the most prominent group of democracies, the G7 catalyzes decisive international action to tackle the biggest challenges we face. It was. “

British Prime Minister Boris Johnson chairs the United Nations Security Council on Climate and Security at the Department of Foreign Affairs and Federal Development in London, UK, on ​​February 23, 2021. The United Kingdom is the alternate chair of the Security Council and the host country for this year’s COP26 UN Climate Change Summit in Glasgow.

Stephen Rousseau-WPA Pool | Getty Images News | Getty Images

“From the cancellation of debt in developing countries to the universal condemnation of Russia’s merger of Crimean, the world applies our common values ​​and diplomatic power to prosper more openly,” he said in a statement. I have asked the G7 to create a planet that has been developed. “

“Coronavirus is arguably the most destructive force we have seen for generations and the greatest test of the modern world order we have experienced. The future.”

A guide to everything you need to know

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