Paris climate summit opens with call for ‘finance shock’
- Date: 23-Jun-2023
- Source: Jordan Times
- Sector:Oil & Gas
- Country:Saudi Arabia
Paris climate summit opens with call for ‘finance shock’
PARIS — The leaders of France and Barbados joined forces on Thursday to push for an overhaul of the international financial system at a summit aimed at tackling poverty and climate change.
French President Emmanuel Macron, who is hosting the two-day conference in Paris, invited Barbadian Prime Minister Mia Mottley to co-headline the event which seeks to improve the lending system for developing countries mired in poverty and threatened by planet-heating emissions.
In his opening remarks, Macron told delegates that the world needs a "public finance shock" — a global surge of financing — to fight these challenges, adding the current system was not well suited to address global challenges.