In Hiroshima for the G7 summit, Emmanuel Macron on Sunday May 21 promoted the global "new financial pact" that he calls for. It is a project to overhaul the architecture of global finance which must avoid having to "choose between the fight against poverty and the fight for the climate", in the words of the French president to the press in Japan. , on the last day of this meeting.
"I was able to present what will be the summit for a new Paris financial pact on June 22 and 23," Emmanuel Macron told reporters. Paris had launched the idea of this summit last fall during COP27 in Egypt with the Prime Minister of Barbados, Mia Mottley, whose small Caribbean island is on the front line in the face of the threats of climate change.
The goal is ambitious: to reform the architecture of global finance to better respond to the challenges of global warming. "We will carry a reform agenda of the International Monetary Fund and the World Bank to provide more financing to the countries that need it most", explained Emmanuel Macron. It also intends to "develop more private financing through guarantee mechanisms".
The French head of state exposed this "funding shock" project to all his interlocutors in Hiroshima, whether major donor countries such as Brazilian President Lula or Indian Prime Minister Narendra Modi. "We don't have to choose between fighting poverty and fighting for climate and biodiversity," he said. “The just transition is the only answer […] it therefore supposes a concessionary shock and a stronger mobilization of our instruments. »
"It's the only way to avoid a division of the world", he further insisted, noting that "more and more countries of the South feel" that they are "asked to make climate efforts when they haven't been helped enough to fight poverty".
