Recent ICC research found governments stand to lose trillions of dollars in economic activity unless developing economies have access to COVID-19 vaccines.
The International Monetary Fund has also called for an extra $US50 billion in funding to bolster the global effort.
Denton called on the leaders to offer an “iron-clad” commitment to share all excess supplies. But he said the ICC saw a clear risk rich nations will hoard vaccines for potential booster shots.
“We are seeing fairly carefully orchestrated announcements to shape an image the G7 is acting while at the same time managing some serious domestic political concerns those leaders have.”
Opening the G7 summit, Johnson on Friday said the meeting was crucial to “learn the lessons from the pandemic and don’t repeat some of the errors” made of the past 18 months.
He said the global economy had the potential to bounce back strongly but cautioned more work was needed to ensure the recovery unfolds in a “more gender-neutral, perhaps more feminine way”.
“It is vital that we don’t repeat the mistake of the last great crisis, the last great economic recession in 2008, where the recovery was not uniform across all parts of society,” he said.
“I think what’s gone wrong with this pandemic, what risks being a lasting scar, is that inequality is maybe entrenched.”
Australia’s 20 million doses will be in addition to the Morrison government’s commitment with Japan to invest $US100 million in the COVAX initiative, a non-profit group that distributes coronavirus vaccines worldwide.
But Australia is unlikely to start sending doses overseas until it can be sure the domestic vaccination rollout is largely complete for people over 50 in the coming months.
Of the 100 million pledged by the UK, just 25 million will be distributed by Christmas. The US commitment is to ship 200 million doses from August to the end of this year, followed by 300 million next year.
“It would be churlish of me not to recognise that this is actually an improvement on the position but let’s look at it the way the actual leader of the G7 described the outcome we should have expected,” Denton said.
“We were told to expect an outcome with the ambition of the Marshall Plan by Prime Minister Johnson.
“If that’s the test, then this is a fail as I see it.”
France, Germany, Italy and other G7 members are also expected to announce pledges over the coming days to collectively reach the 1 billion doses goal.
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