G7 Leads Charge on Climate Finance at UN Summit

The Group of Seven (G7) wealthy democracies are set to spearhead new funding efforts to combat climate change at the upcoming United Nations climate summit in November. A draft statement highlights the G7’s commitment to setting new goals for climate finance and mobilizing international public financial support.

The Group of Seven (G7) wealthy democracies will be at the forefront of new efforts to raise funds to address climate change at the United Nations climate summit in November, a source said, citing extracts from a draft statement.

"We look forward to setting a new collective quantified goal on climate finance at COP 29," said the draft of the statement to be issued at the end of the summit of G7 leaders in Puglia, southern Italy.

"We emphasize that the G7 countries intend to be leading contributors to a fit-for-purpose goal, underlining the importance of including those countries that are capable of contributing in any international public finance mobilization," the draft said.

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