12 Engagements To Combat Climate Change

French President Emmanuel Macron spelt out the twelve engagements at last Tuesday’s Summit at the Seine musicale site in Paris.

After more than five hours of the plenary session of the One Planet Summit, participants came out with a summary of Panel discussions earlier in the morning. They were grouped into twelve themes, pegged basically on fund raising, support for affected countries and populations and increased public and private actions geared towards stemming the tide of Climate Change.

The first two resolutions have to do with coping with extreme events in isolated countries and protecting land and water resources in the face of Climate Change.

The first called for the creation of joint public and private funding for reconstruction while the second requires a land degradation nuetrality fund to be created by France, Canada and other contributors. France is putting an initial five million euros on the table for the fund.

Resolution three has to do with mobilising youths in favour of the climate. The financing of University studies and research by youths are the main beneficiaries.

Funding for this is already available from the Bill and Melinda Gates Foundation, BNP Paribas, coming up with fifteen million dollars in five years. The European Union is expected to provide forty million dollars for this project

Fourth on the list of twelve is Public Contracts and access of Municipal Councils to Climate Change funding. The European bank for reconstruction end development  (BERD) and the European Investment bank (BEI) are expected to help ease access to financing « city to city » joint ventures.

Four other resolutions (five to eight) have to do with carbon free environments.

The zero emission objective is a coalition towards carbon free neutrality led by New Zealand and the Marshal Island. It groups thirty three countries and regions while the sectorial revolution towards carbon free economy is led by the United Kingdom and Canada. The move from coal mining to renewable energy is the goal of this resolution.

Transportation without pollution and use of carbon compatible with the Paris Agreement are geared towards the reduction of the green house gas emissions. The nineth to the twelveth resolution has to do with funding and financial regulation in favour of fighting Climate Change.

These include actions of Central banks, international mobilisation of development banks, engagement of souvereign funds and the mobilisation of institutional investors.
 

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