G7 & EU-US Summit: multilateralism is the only solution to tackle shared global challenges
Dacian Cioloş, president of Renew Europe, has warned that the stakes are high for the forthcoming G7 and EU-US Summit. Speaking today in the European Parliament in Strasbourg, he insisted on the need to stand together as democracies, and face our challenges “united in firmness and courage”.
Protecting democracy and tackling climate change are two areas where there is a shared responsibility to rejuvenate our global alliance: “More and more authoritarian leaders are openly challenging our democratic systems and we need be united and firm in our response. On climate change, the introduction of mandatory disclosure of climate-related financial data and Corporate climate transparency would be an essential first step to send a strong signal that we can no longer bury our heads in the sand “.
Dacian Cioloş has also welcomed the significant move this weekend by G7 Finance Ministers to support economies emerging from the global pandemic:
“I want to welcome the historic decision of the G7 Finance Ministers on the principle of a minimum tax rate of 15% on the profits of multinationals. The current international tax rules are over a century old. It is an unfair system that we cannot explain to our citizens. The OECD must follow the lead of the G7.”
He also appealed to G7 leaders to strengthen their support for COVAX, our main instrument of solidarity to fight the COVID-19 pandemic worldwide; “no one will be safe until everyone is safe - global solidarity is key in this respect”.
He concluded: “A multilateral approach is the only way to show serious political commitment to respond to rising geopolitical challenges. The forthcoming G7 and EU- Summit will bear the weight of this responsibility. ”
Spokesperson to Dacian CIOLOȘ, President of Renew Europe