Canada must at least double its post-2020 climate finance multi-year pledge from CAD$2.65bn over 5 years to 5.2bn, with 50% going towards climate adaptation. Additionally, Canada should double the Green Climate Fund pledge (GCF1) and add another CAD$300m this year to the 2019 pledge, which sadly remains stuck at the level of the first contribution in 2014. Finally, the Canadian government should dedicate the resources necessary to increase Canada’s territory under biodiversity conservation schemes and internationally support other countries in achieving their own conservation targets.

As a major global creditor, Japan should alleviate the debt of developing nations so that they can finance their biodiversity protection. Given its reliance on ocean resources, Japan should support and finance a global initiative to place 50% of global seas and oceans surface under conservation schemes leading to the recovery of global fisheries and allowing maritime life to thrive once again. At the same time, Japan should revamp global efforts to eliminate subsidies on overfishing, double its initial 2014 Green Climate Fund (GCF-1) pledge to $3bn, and dedicate 50% of climate finance to adaptation. Finally, Japan should also put forward a multi-year post-2020 pledge for climate change and stop classifying fossil fuel related finance as climate finance.

France should present a post-2020 pledge to increase its climate finance to €8 billion per year by 2025, with 50% of pledged finance dedicated to adaptation, including a substantial amount of grants-based support for countries with historic ties to France. Furthermore, the French government should also bring diplomatic leadership to encourage the Paris Club to redirect sovereign debts towards financing biodiversity protection, especially with highly indebted countries with a high ecological wealth in Africa, Latin America and South Asia. Following President Macron’s statement that “Biodiversity is life insurance for humans”, France should include in its announced financing efforts to biodiversity (1 bn euros) the re-design of global biodiversity and land-use sourced value-added chains, and support the smooth transition of nations rich in biodiversity towards the sustainable management and use of natural resources, as a key strategy for setting 50% of land and oceans under conservation by 2030.

As one of the world’s richest countries in terms of biodiversity, the U.S. should lead efforts to set the science-based global target of 50% conservation of land and maritime surface by 2030 and provide dedicated financial support for a variety of successful measures including support for protected natural areas led by indigenous peoples and local communities and enhancing global practices of sustainable management and use of natural resources. On climate change, the U.S. must deliver the outstanding $2 billion from the 2014 U.S. pledge to the Green Climate Fund (GCF-1) and present a new pledge for GCF-1 of $6bn, thus doubling their initial 2014 contribution. The U.S. should also offer a first contribution to the Adaptation Fund and a new pledge to the Least Developed Countries Fund (at a similar level to the $51 million pledged in 2015) and increase the 2024 climate finance pledge from $5.7bn to at least $10bn, which would be roughly equivalent to doubling twice over a decade: this in line with what the U.K. has done, and what is being asked of France, Germany and Italy.

As the host of this G7 meeting, the U.K. must provide diplomatic leadership that leads to collective responsibility and action. It must also continue to build on the roadmap of the Climate & Development Ministerial outcomes, in particular by providing increased public finance from the G7. In line with the Dasgupta Report outcomes, the British government must coordinate a G7 initiative to fund the estimated minimum annual $140 bn required to preserve biodiversity by 2030, while also supporting the shift towards sustainable management and use of natural resources in all global value chains impacting land-use. Additionally, the U.K. should commit to restoring levels of Official Development Assistance (ODA) to 0.7% of Gross Domestic Product (GDP) while maintaining climate finance commitments.The U.K. has doubled climate finance to £11.6bn from 2021-22 to 2025-26, with a commitment to earmark half of these funds to measures for mitigation and for adaptation. While this initiative on climate is a very welcome positive move, the overall funding of ODA has shrunk dramatically, putting the lives of millions, and the future of our planet, in peril.

Along with Japan, Germany is a key creditor country, uniquely positioned to lead a comprehensive debt reform with the aim of supporting other countries through their financial recovery. To protect biodiversity to the extent that humans will be able to continue to thrive on Earth, megadiverse countries will need to be empowered to invest in conserving their nature (which in turn benefits all of us as biodiversity is a global common good). Germany should agree on debt redirection to ecosystem restoration and conservation under the science-based target of at least half of the planet by 2030. On climate policy, Germany must present a post-2020 pledge to double its 2015 climate finance pledge to €8bn by 2025, with 50% earmarked for adaptation finance.

As Europe’s most biodiverse country, Italy must deliver sound G7 engagement on global conservation. Italy must push for finance measures needed to achieve the science-based target of at least half of the planet under conservation by 2030, which requires an increase in the ambition they’re currently advocating within the G20 presidency (a 30% protection by 2030). Italy must also empower indigenous peoples and local communities in these efforts by dropping the proposed biodiversity target of 10% “strict protection” so as to avoid “fortress conservation” which often leads to terrible human rights abuses. Biodiversity is a global common good that requires the support of the richest countries to be protected, and as the host of G20 Italy should lead diplomatic efforts in that direction. On climate change, Italy should also commit to delivering a pre-2020 climate finance pledge of €4 billion; a new post 2020 climate finance pledge (doubling its contribution to €8bn by 2025), and also doubling its GCF-1 contribution (i.e. adding €300m) and its €30m contribution to the Adaptation Fund of 2020 (and make it multiannual until 2025).