The joint communique issued by the G7 on Sunday tackled some of the most prominent issues the world faces today namely the coronavirus pandemic and climate change.
The G7 countries pledged to provide more than one-billion vaccine doses to poorer nations in the next 12 months either by donating their surplus supply directly, or by donating to the Covax scheme.
However, details of vaccine donation volume or timeline by nation were not released.
Also the G7 leaders' stance was not clear regarding the temporary waiver of intellectual property rights for vaccines a move that would promote vaccine access but would hamper innovation in the pharmaceutical sector.
But they did vow to participate in discussions at the World Trade Organization.
On climate, the communique stated the G7 countries will strive to deliver on their previous commitment to provide 100-billion U.S. dollars annually to help low-income nations reduce their carbon emissions.
But some activists, including global charity group Oxfam, called on the G7 countries to step up their actions.
"We have a once in a century pandemic, absolutely unprecedented. We have nine years to save the planet. So if you look at what they've done in the last few days and compare it to that then you really can't call it anything more than an abject failure."
The G7 countries, meanwhile, sharpened their tone on China in respect to trade and human rights where Beijing is accused of committing human rights abuses against the Uyghur minority in Xinjiang.
The leaders' communique stated the group would "consult on collective approaches to challenging non-market policies and practices which undermine the fair and transparent operation of the global economy."
The U.S.-led "Build Back Better for the World" plan was adopted which promises to offer financing for infrastructure projects in developing countries to promote their transition to a renewable energy a direct response to China's "Belt and Road" initiative.
On trade, the countries agreed to commit to a global minimum tax of at least 15-percent to make it harder for multinational corporations to avoid tax.
What stands out for South Korea, India and Australia this year, is the G7's 'Open Societies Charter' in which these guest countries, participated in the drafting and signing of the joint communique rather than just being there to observe.
Kim Ji-yeon, Arirang News.