About G7:
- It is an intergovernmental organisation of leading industrialised nations formed in 1975.
- Member countries: Canada, France, Germany, Italy, Japan, the United Kingdom and the United State.
- It meets annually to discuss issues such as global economic governance, international security, and energy policy.
- The host of the G7 summit, also known as the presidency, rotates annually among member countries.
- It was formerly referred to as the G-8 until Russia was suspended from the group in 2014 after annexing Crimea.
- As of 2022, G7 countries make up 10% of the world’s population, 31% of the global GDP, and 21% of global carbon dioxide emissions.
Q1)What is Governance?
Governance refers to the processes, systems, and institutions through which individuals and groups exercise authority and manage resources and affairs.
Source: G7 pledges to quit fossil fuels faster without a new deadline
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