Climate finance summit begins in Paris

PARIS

No country should have to choose between fighting poverty and protecting the planet, French President Emmanuel Macron said on Thursday at the start of the Summit for a New Global Financial Pact in Paris.

International financial reform will be high on the agenda of the two-day summit, beginning in Paris on Thursday with about 50 heads of state attending, along with representatives of international organizations and civil society.

The event will specifically focus on helping the most vulnerable developing countries tackle poverty and climate change.

The Summit for a New Global Financing Pact begins in just a few hours here in Paris.

I can feel it as I receive confirmation of participation and messages from our partners: we can make a huge difference for the planet and against poverty.

— Emmanuel Macron (@EmmanuelMacron) June 21, 2023

Addressing these challenges will take increased private funding and a public finances overhaul, stressed Macron, who had revealed plans to host the summit after COP27 international climate conference in November 2022.

Last week, in a joint article in the French daily Le Monde, Macron and thirteen other political leaders, including US President Joe Biden, emphasized their urgent commitment to combating poverty and inequality.

They expressed concerns that climate change will lead to more frequent and devastating disasters, disproportionately affecting the world's poorest and most vulnerable populations.