Banks pledge one trillion dollars for climate emergency
Issued on: Modified:
As the United Nations climate summit kicks off in New York, France has said it intends to mobilise resources to save the Amazon rainforest, while development banks have committed over one trillion US dollars to fight climate emergency in developing countries.
The 24 development banks announced that they will provide more than 1 trillion US dollars of climate finance by 2025, including an increasing share for adaptation and resilience, namely for developing economies “in the south”.
From New York, the banks which are members of the International Development Finance Club (IDFC), agreed to launch several concrete actions, including a 10-million-dollar IDFC Climate Facility to finance climate activities at the end of 2019.
The IDFC network of development banks also agreed to set up a strategic partnership with the Green Climate Fund so as to achieve the Paris Agreement objectives in mobilising domestic and international climate finance.
Leading scientists tell us that the gap between what we should do to tackle the climate crisis & what we are actually doing, continues to widen.António Guterres (@antonioguterres) September 23, 2019
We must reverse this trend with decisive #ClimateAction.
New United in Science report: https://t.co/in4a0IEMvA pic.twitter.com/a1uMffxFWv
France’s President Emmanuel Macron will be among the heads of state attending the UN Climate Summit in New York, unlike the US President Donald Trump or Brazil’s Jair Bolsonaro. They both oppose the 2015 Paris climate agreement.
French foreign minister Jean-Yves Le Drian said that president Macron intends to give “absolute priority” to the climate emergency. The French president intends to launch another appeal to mobilise efforts to save the Amazon rainforest, which is still swept by fires.
The presidents of Chile, Colombia and a delegation from French Guyana are to join Macron in his appeal for the world's largest rainforest.
Macron also intends to announce that France will double its contribution to the Green Climate Fund and its full commitment to achieve zero-carbon emission by 2050.
Greenpeace France told RFI, given Macron's strong-worded declarations on the Amozon rainforest, that the president should also set up a moratorium on soy imports used in cattle farming in France.
"President Macron should also cancel Total's plan to transform its refinery in La Mède, in the south of France, because it is a major cause of deforestation in south-east Asia," says Jean-Françsois Juillard, executive director for Greenpeace France.
Greenpeace claims that the French government authorised Total to import 550,000 tons of palm oil for its refinery.
Daily newsletterReceive essential international news every morningSubscribe