Global supply chains and net zero front and centre in G7 talksThe resilience of global supply chains and net zero are set to be focal points of G7 discussions on Wednesday, as UK chancellor Rishi Sunak heads to Washington to meet with the group’s finance ministers.

Sunak will attend a meeting of G20 finance ministers and chair the final in-person meeting of the G7’s finance ministers under the UK’s presidency.

In his G20 intervention, Sunak is set to reiterate the importance of continued vaccine rollouts across the globe, and urge coordinated action and ambitious emissions reduction targets from the whole G20 to support the transition to net zero.

Chairing the G7 finance ministers, Sunak will call for coordination in action on global supply chain issues, and encourage further support for vulnerable countries.

“Global cooperation is key to addressing our shared challenges as we emerge from the pandemic,” Sunak said in a statement released by the Treasury. “From global tax reform to global supply chains, we must work together to seek international solutions for the benefit of our citizens at home.”

The Treasury said that Sunak will urge G7 finance ministers to boost their support for vulnerable countries, particularly through channeling Special Drawing Rights, which is a type of international reserve asset issued by the International Monetary Fund.

Read more…