Climate Summit: There is a need for change in the global debt system - Macron On Thursday, French President Emmanuel Macron opened a meeti...

 

Climate Summit: There is a need for change in the global debt system - Macron

On Thursday, French President Emmanuel Macron opened a meeting to explore how to finance the battle against climate change. He stated that adjustments to the international funding system are required to ensure that poverty does not result in a country's vulnerability in the war with others. Climate change is not an issue for the underprivileged.

He claimed that although the World Bank and the International Monetary Fund's system of international lending has been helpful in the past, there are indications that it may not be adequate to address the difficulties of the modern period.

The mechanism that will be used to address the two problems that beset the world, notably poverty and climate change, may be improved, according to Macron.

He claimed that in order to support the global transition to environmentally friendly economic activity, cash must be raised and invested in clean technologies.

Mia Mottley, the prime minister of Barbados, is attending this meeting with Macron. Mia Mottley has been a leading advocate for changing the World Bank and the International Monetary Fund's mission in light of climate change.

William Ruto of Kenya, Olaf Scholz of Germany, Li Qiang of China, and Ursula von der Leyen of the European Commission are among the leaders of the nations represented at this gathering.

In order to explore various topics ahead of the upcoming economic and climate change conference, France is organising this two-day gathering.