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It holds that governments and [[institutional investor]]s must always have in mind the best interests of [[working class|employees]] when making investment decisions—including decent wages and pension benefits. Engaged employee-nominated pension board members are expected to contribute to the development of the equitable investment ethos that will drive this economic approach.<ref>{{cite news|last1=[[World Pensions & Investments Forum|The World Pensions Council]]|first1=.|title=6th World Pensions Forum: Greening, Governance and Asset Ownership|url=https://amnt.org/wp-content/uploads/2017/04/6th-World-Pensions-Forum2017.pdf|accessdate=7 June 2018|work=Revue Analyse Financière|publisher=SFAF|date=5 April 2017}}</ref>
It holds that governments and [[institutional investor]]s must always have in mind the best interests of [[working class|employees]] when making investment decisions—including decent wages and pension benefits. Engaged employee-nominated pension board members are expected to contribute to the development of the equitable investment ethos that will drive this economic approach.<ref>{{cite news|last1=[[World Pensions & Investments Forum|The World Pensions Council]]|first1=.|title=6th World Pensions Forum: Greening, Governance and Asset Ownership|url=https://amnt.org/wp-content/uploads/2017/04/6th-World-Pensions-Forum2017.pdf|accessdate=7 June 2018|work=Revue Analyse Financière|publisher=SFAF|date=5 April 2017}}</ref>

===Preparing for [the] jobs of the future===
{{expandsection|date=June 2018}}


===Advancing gender equality and women's empowerment===
===Advancing gender equality and women's empowerment===

Canadian and French thought leaders have stressed the need to achieve rapidly real [[gender equality]] across all economic sectors, by using modern, quantitative managerial tools that can help measure precisely [[gender pay gap]]s and thus inform corrective policy measures at both corporate and government level. Meeting in Paris, Montreal and Toronto in the weeks leading up to the Charlevoix summit, Canadian and European [[Pension fund|asset owners]] and policy makers agreed on the need to step up and assume more responsibility for the advancement of [[women's rights]] and other “related social parameters” across all assets classes<ref>{{cite news|last1=Firzli|first1=Nicolas|title=Greening, Governance and Growth in the Age of Popular Empowerment|url=http://www.pensions-expert.com/Special-Features/The-Cut/Greening-governance-and-growth-in-the-age-of-popular-empowerment|accessdate=27 April 2018|work=FT Pensions Experts|publisher=Financial Times|date=3 April 2018}}</ref> <ref>{{cite news|last1=SFAF|first1=.|title=7e Forum Mondial des Fonds de Pension : Croissance Équitable et Financement|url=http://analysefinanciere.org/2018/04/06/7e-forum-mondial-fonds-de-pension-croissance-equitable-financement-pme-eti-innovantes/|accessdate=2 June 2018|work=Revue Analyse Financière|publisher=Société Française des Analystes Financiers|date=6 April 2018}}</ref>
Canadian and French thought leaders have stressed the need to achieve rapidly real [[gender equality]] across all economic sectors, by using modern, quantitative managerial tools that can help measure precisely [[gender pay gap]]s and thus inform corrective policy measures at both corporate and government level. Meeting in Paris, Montreal and Toronto in the weeks leading up to the Charlevoix summit, Canadian and European [[Pension fund|asset owners]] and policy makers agreed on the need to step up and assume more responsibility for the advancement of [[women's rights]] and other “related social parameters” across all assets classes<ref>{{cite news|last1=Firzli|first1=Nicolas|title=Greening, Governance and Growth in the Age of Popular Empowerment|url=http://www.pensions-expert.com/Special-Features/The-Cut/Greening-governance-and-growth-in-the-age-of-popular-empowerment|accessdate=27 April 2018|work=FT Pensions Experts|publisher=Financial Times|date=3 April 2018}}</ref> <ref>{{cite news|last1=SFAF|first1=.|title=7e Forum Mondial des Fonds de Pension : Croissance Équitable et Financement|url=http://analysefinanciere.org/2018/04/06/7e-forum-mondial-fonds-de-pension-croissance-equitable-financement-pme-eti-innovantes/|accessdate=2 June 2018|work=Revue Analyse Financière|publisher=Société Française des Analystes Financiers|date=6 April 2018}}</ref>


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[[World Pensions & Investments Forum|World Pensions Council (WPC)]] economist Nicolas J. Firzli has argued that, in spite of the [[United States withdrawal from the Paris Agreement]], the G7-driven process of international consensus-building could still be tilted in favor of renewed cooperation towards the attainment of the [[Sustainable Development Goals]]—thanks notably to Justin Trudeau’s [[multilateralism|multilateralist]] approach<ref>{{cite news|last1=Firzli|first1=Nicolas|title=The New Geopolitics of Globalization and the Road to Charlevoix|url=https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3187450|accessdate=1 June 2018|work=Revue Analyse Financière|publisher=SFAF|date=15 January 2018}}</ref> and the rapid shift towards [[Environmental, social and corporate governance|ESG-informed]] investment policies amongst US and Canadian [[institutional investor]]s.<ref>{{cite news|last1=Firzli|first1=Nicolas|title=Greening, Governance and Growth in the Age of Popular Empowerment|url=http://www.pensions-expert.com/Special-Features/The-Cut/Greening-governance-and-growth-in-the-age-of-popular-empowerment|accessdate=27 April 2018|work=FT Pensions Experts|publisher=Financial Times|date=3 April 2018}}</ref>
[[World Pensions & Investments Forum|World Pensions Council (WPC)]] economist Nicolas J. Firzli has argued that, in spite of the [[United States withdrawal from the Paris Agreement]], the G7-driven process of international consensus-building could still be tilted in favor of renewed cooperation towards the attainment of the [[Sustainable Development Goals]]—thanks notably to Justin Trudeau’s [[multilateralism|multilateralist]] approach<ref>{{cite news|last1=Firzli|first1=Nicolas|title=The New Geopolitics of Globalization and the Road to Charlevoix|url=https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3187450|accessdate=1 June 2018|work=Revue Analyse Financière|publisher=SFAF|date=15 January 2018}}</ref> and the rapid shift towards [[Environmental, social and corporate governance|ESG-informed]] investment policies amongst US and Canadian [[institutional investor]]s.<ref>{{cite news|last1=Firzli|first1=Nicolas|title=Greening, Governance and Growth in the Age of Popular Empowerment|url=http://www.pensions-expert.com/Special-Features/The-Cut/Greening-governance-and-growth-in-the-age-of-popular-empowerment|accessdate=27 April 2018|work=FT Pensions Experts|publisher=Financial Times|date=3 April 2018}}</ref>

===Building a more peaceful and secure world===
{{expandsection|date=June 2018}}


==Leaders at the summit==
==Leaders at the summit==

Revision as of 19:13, 10 June 2018

44th G7 summit
File:2018 G7 Logo CYMK.jpg
Host countryCanada
Date8–9 June 2018
Venue(s)La Malbaie, Quebec, Canada
Participants Canada
 France
 Germany
 Italy
 Japan
 United Kingdom
 United States
 European Union
Follows43rd G7 summit
Precedes45th G7 summit
Websiteg7.gc.ca/en/

The 44th G7 summit was held on June 8–9, 2018, in La Malbaie, Quebec, Canada.[1] This was the sixth time since 1981 that Canada has hosted the meetings.[2]

In March 2014, the G7 declared that a meaningful discussion was currently not possible with Russia in the context of the G8.[3] Since then, meetings have continued within the G7 process. On the first day of the summit, the United States announced that it would push for the reinstatement of Russia. Italy also requested a restoration of the G8 shortly after.[4][5]

The summit received much attention due to a significant decline of relations of members with the United States.[6] Due to this, the summit was dubbed the "G6+1" by France and some members of the media. This was signifying the isolation of the United States due to recent events.[7][8][9]

Host

The Manoir Richelieu Hotel in La Malbaie, Quebec, Canada was chosen as the host of the G7 summit,[10] in part due to its natural beauty and security. It is the first G8 summit to be hosted by Quebec since 1981.[10] La Malbaie, once a resort town that hosted American presidents, required US$465 million in preparations, including new high-speed internet service, new cellphone towers, and security fences.[11] Kelowna, British Columbia was also considered as a potential host.[11]

Agenda and preparation

In May 2017, Canadian Prime Minister Justin Trudeau stated that he intended to "showcase both its domestic and international priorities: to strengthen the middle class, advance gender equality, fight climate change, and promote respect for diversity and inclusion".[1]

In June 2017, Peter Boehm was appointed as Deputy Minister for the G7 Summit and Personal Representative of the Prime Minister [12] after serving as the Canadian G7 Sherpa since 2012.[13]

In December 2017, Trudeau unveiled the summit logo and announced five key themes that Canada would advance once it assumed the Presidency of the G7 on January 1, 2018.[14]

Readmission of Russia and the G8

On June 8, 2018, US president Donald Trump pushed for the reinstatement of the G8.[4] Italian prime minister Giuseppe Conte supported the idea.[15]

Investing in growth that works for everyone

The notion of “economic growth that works for everyone” or “equitable growth”, known as ‘Croissance Équitable’ in French,[16] is rooted in the papal encyclical Rerum Novarum which has had a profound influence on the economic thought of French and Quebecer policy makers – including Pierre Elliott Trudeau and other alumni of the Université de Montréal.[17]

It holds that governments and institutional investors must always have in mind the best interests of employees when making investment decisions—including decent wages and pension benefits. Engaged employee-nominated pension board members are expected to contribute to the development of the equitable investment ethos that will drive this economic approach.[18]

Advancing gender equality and women's empowerment

Canadian and French thought leaders have stressed the need to achieve rapidly real gender equality across all economic sectors, by using modern, quantitative managerial tools that can help measure precisely gender pay gaps and thus inform corrective policy measures at both corporate and government level. Meeting in Paris, Montreal and Toronto in the weeks leading up to the Charlevoix summit, Canadian and European asset owners and policy makers agreed on the need to step up and assume more responsibility for the advancement of women's rights and other “related social parameters” across all assets classes[19] [20]

In that perspective, Canadian Prime Minister Justin Trudeau is expected to announce a distinct G7 sustainability initiative focusing specifically on gender diversity across global capital markets—for which “the Canada Pension Plan, OMERS, the Caisse de dépôt et placement du Québec and the Ontario Teachers’ Pension Plan are each expected to pitch in [initially] $1 million apiece, with another $5 million from the federal government.” [21]

Working together on climate change, oceans and clean energy

World Pensions Council (WPC) economist Nicolas J. Firzli has argued that, in spite of the United States withdrawal from the Paris Agreement, the G7-driven process of international consensus-building could still be tilted in favor of renewed cooperation towards the attainment of the Sustainable Development Goals—thanks notably to Justin Trudeau’s multilateralist approach[22] and the rapid shift towards ESG-informed investment policies amongst US and Canadian institutional investors.[23]

Leaders at the summit

The family photo of the G7 leaders, 8 June 2018
Working session on 8 June 2018

The attendees will include the leaders of the seven G7 member states as well as representatives of the European Union. The President of the European Commission has been a permanently welcome participant at all meetings and decision-making since 1981.

The 44th G7 summit was the first summit for Italian Prime Minister Giuseppe Conte.

Participants

Core G7 members
Host state and leader are shown in bold text.
Member Represented by Title
Canada Canada Justin Trudeau Prime Minister
France France Emmanuel Macron President
Germany Germany Angela Merkel Chancellor
Italy Italy Giuseppe Conte Prime Minister
Japan Japan Shinzō Abe Prime Minister
United Kingdom United Kingdom Theresa May Prime Minister
United States United States Donald Trump President
European Union European Union Jean-Claude Juncker Commission President
Donald Tusk Council President

Gallery of participating leaders

Dispute with Donald Trump

The summit was dubbed the "G6+1" by the French government and political commentators.[24][25] This resulted from the United States withdrawing from the Iran Deal along with the Paris Agreement, rampant American protectionism, and fights with French President Emmanuel Macron and Canadian Prime Minister Justin Trudeau.[4]

Trump left the summit early in order to travel to Singapore for an upcoming meeting with North Korean leader Kim Jong-un. On 9 June 2018, he tweeted that he had instructed the representatives of the United States not to endorse the Communique and criticized Justin Trudeau's statements at a news conference following the meeting, calling him "dishonest & weak".[26][27]

See also

References

  1. ^ a b "Canada to host 2018 G7 Summit in Charlevoix, Quebec". pm.gc.ca. Prime Minister of Canada. May 27, 2017. Retrieved May 27, 2017.
  2. ^ "Canada to host 2018 meeting of G7 leaders in Charlevoix, Quebec". Toronto Star. May 25, 2017. Retrieved May 29, 2017.
  3. ^ "Leaders plan Brussels G7 in June instead of G8 in Sochi". Irish Independent. March 24, 2014. Retrieved May 29, 2017..
  4. ^ a b c "Trump Calls for Russia to Be Readmitted to G-7". The New York Times. 2018-06-08. ISSN 0362-4331. Retrieved 2018-06-08.
  5. ^ Herszenhorn, David (June 8, 2018). "New Italian leader backs Trump on Russia rejoining G-7". Politico. Retrieved June 8, 2018. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  6. ^ Erlam, Craig (June 8, 2018). "Risk Aversion Seen Ahead of Hostile G6+1 Summit". FXStreet. Retrieved June 8, 2018. The G7 meeting has become more like a G6+1, with Trump choosing to isolate the US on a number of issues from trade to Iran and climate change. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  7. ^ Allen, Jonathan (June 8, 2018). "Welcome to the G6+1: Trump reps an isolated America at the G-7 summit". NBC News. Retrieved June 8, 2018. The G-7 this year looks more like a G6+1. That's how French Foreign Minister Bruno Le Maire recently described America's increasingly isolated position as the Group of Seven nations — the U.S., Britain, France, Japan, Germany, Italy and Canada — start a two-day meeting in Charlevoix, Canada, Friday. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  8. ^ Erlam, Craig (June 8, 2018). "Risk Aversion Seen Ahead of Hostile G6+1 Summit". FXStreet. Retrieved June 8, 2018. The G7 meeting has become more like a G6+1, with Trump choosing to isolate the US on a number of issues from trade to Iran and climate change. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  9. ^ Kottasová, Ivana (June 8, 2018). "G7 summit angst; ZTE deal; IMF in Argentina". CNN. Retrieved June 8, 2018. Diplomatic tensions and an escalating trade war mean that President Donald Trump can expect a chilly reception at the summit, which some have dubbed the G6+1. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  10. ^ a b "PM prepares Charlevoix for next year's G7 summit". CTV Montreal. June 8, 2017. Retrieved June 8, 2018.
  11. ^ a b Lavoie, Jasmin; Bilefsky, Dan (June 7, 2018). "A Quebec Resort Town Hopes the Group of 7 Will Revive a Glorious Past". The New York Times. Retrieved June 8, 2018.
  12. ^ "The Prime Minister announces changes in the senior ranks of the Public Service". pm.gc.ca. Office of the Prime Minister. June 23, 2017. Retrieved June 24, 2017.
  13. ^ "Peter Boehm". pm.gc.ca. June 23, 2017. Retrieved June 24, 2017.
  14. ^ "Prime Minister unveils themes for Canada's 2018 G7 Presidency". pm.gc.ca. Office of the Prime Minister. December 14, 2017.
  15. ^ @GiuseppeConteIT (June 8, 2018). "GiuseppeConte on Twitter" (Tweet) – via Twitter.
  16. ^ SFAF, . (6 April 2018). "7e Forum Mondial des Fonds de Pension : Croissance Équitable et Financement". Revue Analyse Financière. Société Française des Analystes Financiers. Retrieved 2 June 2018. {{cite news}}: |first1= has numeric name (help)
  17. ^ Bischoff, Peter (1 October 2010). "La réception de Rerum novarum dans un sol préparé d'avance : la province de Québec". Bulletin du RCHTQ. Université de Montréal. Retrieved 7 June 2018.
  18. ^ The World Pensions Council, . (5 April 2017). "6th World Pensions Forum: Greening, Governance and Asset Ownership" (PDF). Revue Analyse Financière. SFAF. Retrieved 7 June 2018. {{cite news}}: |first1= has numeric name (help)
  19. ^ Firzli, Nicolas (3 April 2018). "Greening, Governance and Growth in the Age of Popular Empowerment". FT Pensions Experts. Financial Times. Retrieved 27 April 2018.
  20. ^ SFAF, . (6 April 2018). "7e Forum Mondial des Fonds de Pension : Croissance Équitable et Financement". Revue Analyse Financière. Société Française des Analystes Financiers. Retrieved 2 June 2018. {{cite news}}: |first1= has numeric name (help)
  21. ^ Smith, Marie-Danielle (28 May 2018). "Canadian government to announce G7 sustainability initiative with focus on gender diversity in global capital markets". National Post. NP. Retrieved 3 June 2018.
  22. ^ Firzli, Nicolas (15 January 2018). "The New Geopolitics of Globalization and the Road to Charlevoix". Revue Analyse Financière. SFAF. Retrieved 1 June 2018.
  23. ^ Firzli, Nicolas (3 April 2018). "Greening, Governance and Growth in the Age of Popular Empowerment". FT Pensions Experts. Financial Times. Retrieved 27 April 2018.
  24. ^ Allen, Jonathan (June 8, 2018). "Welcome to the G6+1: Trump reps an isolated America at the G-7 summit". NBC News. Retrieved June 8, 2018. The G-7 this year looks more like a G6+1. That's how French Foreign Minister Bruno Le Maire recently described America's increasingly isolated position as the Group of Seven nations — the U.S., Britain, France, Japan, Germany, Italy and Canada — start a two-day meeting in Charlevoix, Canada, Friday. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  25. ^ Kottasová, Ivana (June 8, 2018). "G7 summit angst; ZTE deal; IMF in Argentina". CNN. Retrieved June 8, 2018. Diplomatic tensions and an escalating trade war mean that President Donald Trump can expect a chilly reception at the summit, which some have dubbed the G6+1. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  26. ^ @realDonaldTrump (9 June 2018). "Based on Justin's false statements at his news conference, and the fact that Canada is charging massive Tariffs to our U.S. farmers, workers and companies, I have instructed our U.S. Reps not to endorse the Communique as we look at Tariffs on automobiles flooding the U.S. Market!" (Tweet). Archived from the original on 9 June 2018 – via Twitter.
  27. ^ @realDonaldTrump (9 June 2018). "PM Justin Trudeau of Canada acted so meek and mild during our @G7 meetings only to give a news conference after I left saying that, "US Tariffs were kind of insulting" and he "will not be pushed around." Very dishonest & weak. Our Tariffs are in response to his of 270% on dairy!" (Tweet). Archived from the original on 9 June 2018 – via Twitter.

External links

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