Macron: "Public Finance Changes Needed to Address Poverty and Climate Change"

French President Emmanuel Macron said on the 22nd (local time), "No country should choose only one between poverty eradication and climate change response."

Emmanuel Macron, President of France / Photo by Yonhap News

AFP reported that President Macron made this statement at the opening ceremony of the 'Summit for a New Global Financial Pact' held in Paris, emphasizing the roles of the International Monetary Fund (IMF) and the World Bank (WB).

President Macron stressed to the attending leaders, "The current system is not suitable for addressing poverty and the climate crisis," and added, "A shocking change in global public finance is necessary."

Following this, Ugandan environmental activist Vanessa Nakate condemned fossil fuel companies for promising development for poor regions but failing to deliver. Instead, the profits go into the pockets of the already wealthy.

Nakate pointedly said, "Please stop saying that since money seems to be overflowing, we must accept toxic air, barren lands, and poisoned water in order to develop."

This summit was co-hosted by France and Barbados, a Caribbean island nation struggling with rising sea levels. It aims to finance climate change responses for economically vulnerable countries.

The meeting was attended by Mia Mottley, Prime Minister of Barbados; Olaf Scholz, Chancellor of Germany; Li Qiang, Premier of China; Mohammed bin Salman, Crown Prince of Saudi Arabia; William Ruto, President of Kenya; and others. Ant?nio Guterres, Secretary-General of the United Nations (UN); Ursula von der Leyen, President of the European Commission (EU); Kristalina Georgieva, Managing Director of the IMF; Ajay Banga, President of the WB; and Janet Yellen, U.S. Secretary of the Treasury, also participated.

This content was produced with the assistance of AI translation services.