G7 Summit: World Leaders Discuss Global Supply Chains

Expectations were low for the G7 Summit in Germany, which ended today. It is thus all the more surprising that the participants have agreed to phase out the use of fossil fuels by the end of the century. When asked about what he – besides climate targets – considers the most important result of the summit, one of the participants, the President of the European Commission, Jean-Claude Juncker, made a remarkable statement today on German TV: “Well, this might surprise you, as it is rarely reported on in the news: We had an in-depth discussion about supply chains. Surely, we cannot accept that we, in our part of Europe, wallow in wealth and, in the face of the global problems caused by social dumping, let others pick up the bill for our wealth. What we need are fair conditions everywhere: labor rights, environmental standards. And this is what we will be working on.” It seems that the world’s leaders have put supply chains on their priority list.