A pledge to fight climate change is sending money to strange places
ReutersJun 01, 2023
On Thursday, French Pres. Emmanuel Macron opened the Summit for a New Global Financial Pact in Paris, which seeks to discuss international monetary reforms.
Around 50 heads of state and representatives of international organizations and civil society are expected to attend the two-day summit, intended to find solutions to tackle poverty and climate change.
The most significant barrier to addressing the economic issues associated with climate change is not financing but a lack of political will. World leaders must stop lagging and spending so long unenthusiastically discussing issues, and instead start making decisions and taking responsibility. Every year wealthy nations make the same pledges, but nothing changes.
The issue of how to economically support climate change reform in the global south is an important, multifaceted issue. Although the global climate emergency is too big a question to answer in a two-day summit, world governments are committed to solving the crisis, and actions are being taken to aid developing countries to transition to clean energy and climate-friendly practices.
There's an 85% chance that the EU will rank above the US and China every year until 2030, per the Climate Change Performance Index, according to the Metaculus prediction community.