2023-12-29 13:29:54
By Le Figaro with AFP
Published 1 hour ago, Updated 1 hour ago
The President of the Republic Emmanuel Macron. LUDOVIC MARIN / AFP
The Head of State calls in particular for reforming the governance of the Bretton Woods system by involving emerging countries more.
Wear the “at the same time” at the World level. This seems to be the will of Emmanuel Macron, who wishes “accelerate at the same time in terms of ecological transition and the fight against poverty”, detailing the “seven pillars» to «doctrine» in a column in the daily Le Monde published on Friday. The head of state once again pleaded for “create the conditions for a financial shock» to help emerging countries put in place policies «unorthodox fiscal and monetary».
It also calls for reforming the governance of the Bretton Woods system – agreements which redefined the rules of global finance in 1944 – by “starting with the World Bank and the IMF». «Eighty years after its creation, this financial architecture is undersized compared to the size of the economy and the world population», Explains Emmanuel Macron. And to add that this one is also “largely fragmented, because we have not opened the door to emerging and developing countries in governance» within these institutions.
«We need to mobilize, beyond public funding, new private insurance mechanisms in the face of climate risk.“, he estimates, announcing for the first half of 2024 “a first package for adaptation to climate change and loss and damage» in Bangladesh with a billion euros invested by the French Development Agency.
A One Planet summit on access to water in September 2024
France and Kazakhstan will also organize “in September 2024” and “One Planet summit on the sidelines of the next United Nations General Assembly» on the particular subject of access to water and its “global governance mechanisms“, he says. Two days before his traditional greetings to the French, the Head of State is once again taking a step aside in the hope of putting an end to the controversy and the political crisis born from his law on immigration, by insisting on the one of his favorite subjects: the implementation of the Paris climate agreement.
Objective “non-negotiable“, he recalls in his column, “the most advanced countries, which are also those which have emitted the most CO2 since the industrial revolution, must abandon fossil fuels“. He calls for helping emerging countries in their transition, by “accelerating the financing of renewable energies but also of nuclear energy, the role of which is key».
Also read: Is Emmanuel Macron targeted by France’s condemnation for climate inaction?
The third United Nations Conference will be held in Nice in June 2025
Concerning the preservation of biodiversity, the third United Nations conference on the ocean will be held in Nice in June 2025, a joint initiative of France and Costa Rica. More recent element of his “doctrine»: financing the preservation of forests abroad. Three partnerships, for a total amount of more than 200 million euros, were announced by Emmanuel Macron at COP28 to protect the tropical forests of Papua New Guinea, Congo-Brazzaville and the Democratic Republic of Congo, which store CO2. These agreements mention “carbon credits and biodiversity», without details, while the social and environmental benefits of these tools are regularly called into question.
In his forum, the president calls for “an in-depth reform of the voluntary market for the exchange of carbon credits» which currently allow companies to offset their emissions to achieve their neutrality objectives. It also calls for the creation of a “International carbon and biodiversity exchange” with some “sufficiently ambitious criteria to avoid greenwashing”, to which the “public actors» could participate in the same way as businesses. However, COP28 failed to create an international mechanism supervised by the UN, provided for by the Paris agreement, to regulate carbon credits. The road is still long…
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