The President of France, Emmanuel Macron, announced that a summit will take place in Paris in June 2023 to outline a financing mechanism for the states most affected by climate change.
CMIO.org in sequence:
COP27 approves fund to compensate poor countries
The president pointed out that the meeting would be held prior to the next Conference of the Parties (COP) set to take place in November next year in Dubai, United Arab Emirates.
In this sense, the Head of State ratified the need for “a new financial pact with the most vulnerable countries. I will work for this with our partners so that a Summit can be held in Paris before the next COP”.
At COP27, France and Europe have reaffirmed their commitment to the climate. We need a new financial pact with the most vulnerable countries. I’ll work on this with our partners with a view to a summit in Paris before the next COP.
—Emmanuel Macron (@EmmanuelMacron)
November 20, 2022
The summit, which will be in collaboration with the Prime Minister of Barbados, Mia Mottley, will have the purpose of attracting the main financial sources of the world in order to support the poorest states in the fight against climate change.
At the same time, Macron highlighted the importance of reducing carbon dioxide emissions while pointing out the “disappointment” of the European Union regarding the little emphasis in this regard in the final report of COP27.
Accordingly, the president called on the international community to “commit unequivocally to abandon coal. We closely follow those emerging countries that are an example, such as Indonesia and South Africa”.
The countries participating in COP27 reached an agreement this Sunday on the creation of the financing mechanism, which was described by the UN Secretary General, Antonio Guterres, as “an important step towards justice.”
In turn, Guterres expressed that “I welcome the decision to establish a fund for losses and damages and to launch it in the next period. Clearly this will not be enough, but it is a much-needed political signal to rebuild broken trust.”
Disclaimer: Via Telesur – Translated by RJ983
See this content by source