G7 Communique Seeks 70% Reduction in Carbon Emissions by 2050, 100% by 2100; Browsing the 44 Item G7 "Wish List"

G7 Communiques come and go. It's all much ado about nothing because nothing is ever done.

Here are 44 items from the Leadersʼ Declaration Communique for the G7 Summit June 7-8 2015 wish list.

44 Point G7 Wish List

1. Take concrete action to address global warming
2. Eliminate 40 to 70% of greenhouse gas emissions by 2050
3. Decarbonisation of the global economy over the course of this century.
4. Spend $100 billion a year on low-carbon strategies
5. Start a carbon early warning system for noncompliance in small islands developing states, Africa, Asia and Pacific, Latin America and the Caribbean
6. Accelerate access to renewable energy in Africa
7. Reaffirm ambition to make the Green Climate Fund fully operational in 2015
8. Phase down hydrofluorocarbons
9. Praise the Hamburg Initiative for Sustainable Energy Security
10. Build on the “Kobe 3R Action Plan” for resource efficiency
11. Protect the marine environment in conjunction with the International Seabed Authority
12. Complete the unfinished business of the Millennium Development Goals, end extreme poverty
13. Support women’s entrepreneurship
14. Enact financial market regulation
15. Create a fair and modern international tax system
16. Reduce trade barriers
17. Emphasize the importance of freedom, peace and territorial integrity, as well as respect for international law and respect for human rights
18. Condemnation of the illegal annexation of the Crimean peninsula by the Russian Federation and reaffirm our policy of its non-recognition
19. Achieve High Levels of Nuclear Safety
20. Achieve Maritime Security
21. Strengthen Arms Trade Treaties
22. Combating the proliferation of weapons of mass destruction
23. Call on Iran to cooperate fully with the International Atomic Energy Agency on verification of Iran's nuclear activities
24. Condemn North Korea's nuclear program and human rights violations
25. Concern over Libya
26. Resolve the Israeli-Palestinian Conflict
27. Fight Trafficking of Migrants/Tackle Causes for Refugee Crises
28. Fight terrorism
29. Support African Partners
30. Support Afghanistan
31. Support Reconstruction in Nepal
32. Establish health care as a fundamental right
33. Prevent Ebola outbreaks
34. Combat Antimicrobial Resistances
35. Fight neglected tropical diseases
36. Leave no one behind, reduce inequality, accelerate the global transition to sustainable economies, promote sustainable management of natural resources
37. Strengthen peace, good governance and human rights
38. Combat hunger and malnutrition by 2030
39. Help 500 million people via the Broad Food Security and Nutrition Development Approach
40. Empower women, smallholders and family farmers
41. Foster access to quality jobs for women
42. Support the UN Women’s Empowerment Principles and call on companies worldwide to integrate them
43. Reaffirm our commitment to the initiative on Strengthening Assistance for Complex Contract Negotiations (CONNEX), aimed at providing multi-disciplinary expertise in developing countries for negotiating complex investment agreements
44. Renew commitment to the Deauville Partnership with Arab countries in transition

The joke of the day comes at the tail end of the 17 page communique: "We remain committed to holding ourselves accountable for the promises we have made in an open and transparent way."

The only thing the communique left out was support for motherhood and apple pie. What a total waste of time and money.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.