The Head of State pleaded in favor of a reform of the international financial system which makes it possible to better support the most vulnerable countries in the face of warming.
by Audrey Garric and Laure Stephan (Charm El-Cheikh (Egypt), Special Envoy)
As usual, Emmanuel Macron presented himself as a great defender of the fight against climate change, praising the action of France and the European Union (EU) in this battle. But his speech delivered at the summit of leaders of the 27
The President of the Republic has recognized that the irreversible damage caused by global warming affect the most vulnerable countries, which are the least responsible for them. He judged that this question of “losses and damage”, a crucial challenge of the conference, is “a debate which is fair”. In order to get out of these “unbearable” injustices “, he called for a” concessional financing shock “(on preferential conditions) and a” deep recomposition of our solidarity mechanisms “.
Emmanuel Macron announced the launch, with the Prime Minister of Barbados, Mia Mottley, of a “high -level wise group” who will have to make proposals by spring 2023 to find “innovative financial mechanisms “And reform the international financial system like the World Bank and the IMF – a demand that the head of the small Caribbean island has been wearing for a year. He resumed the idea of a suspension of debt for countries struck by a climate disaster.
“We offer yet another group”
“It is positive, because we need countries with weight to carry this systemic reform of financial institutions, reacts Lola Vallejo, the climate director of the Institute of Sustainable Development and International Relations. This responds to the South request to make the cake of climate funding grow. “
Proposals that did not convince NGOs in the Action Climate network. The creation of a reflection group is “an incredible nose to vulnerable countries, Slices Fanny Petitbon, from the NGO Care France. We offer yet another group, yet another dialogue, while we need an answer In the very short term for losses and damage. “Developing countries require the creation of an additional financial mechanism, with new funds. However, the solutions are known, she recalls, like taxes on fossil fuels or on “superprofits”, which for example defends the boss of the UN, Antonio Guterres. Clément Sénéchal, from Greenpeace, fears that these proposals “paralyze” the negotiations in progress.
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