We are working urgently to achieve the best for humanity and the planet. Multiple traumas have overlapped, fraying countries’ ability to address hunger, poverty, inequality, build resilience and invest in the future. In low- and middle-income countries, debt-related vulnerabilities represent a significant setback to their economic recovery and ability to make critical long-term investments.
We are committed to urgently finding solutions that help us eradicate poverty and inequality. An estimated 120 million people have plunged into extreme poverty in the last three years, and we are still a long way from reaching our United Nations Sustainable Development Goals by 2030. Therefore, it is imperative to put people at the heart of our strategy to improve human well-being everywhere on the planet.
(…) Climate change will create ever larger and more frequent disasters and will increasingly disproportionately affect the most vulnerable and poorest populations around the world. These are dangers that go beyond borders and can put societies and economies at existential risk.
We want a system that delivers more to the planet. The transition to a zero-emissions world and the achievement of the goals of the Paris Agreements are an opportunity for this generation to usher in a new era of sustainable global economic growth. We believe that just ecological transitions that leave no one behind can be a powerful force in alleviating poverty and enabling inclusive and sustainable development. This requires long-term investment everywhere to ensure that all countries are able to seize this opportunity. (…) We are convinced that the reduction of poverty and the protection of the planet are convergent objectives. We must prioritize just and inclusive transitions that ensure that the poorest and most defenseless will reap the full benefits of this opportunity, rather than shouldering the burden disproportionately. (…)
We will ensure that the Paris Summit for a new global financing deal, which will take place on 22 and 23 June, is a decisive political opportunity to recoup the development benefits lost in recent years and to accelerate the achievement of the Goals of the development of the United Nations, including just transitions. (…) One of the main priorities is to continue the ambitious reform of our system of multilateral development banks, building on the current enthusiasm. We are calling on development banks to proceed responsibly to do more with existing resources and to increase their financing and private capital mobilization capacities, based on clear objectives and strategies in terms of private financial contributions and the mobilization of internal resources. These financial resources are essential, but the reform involves much more than money. It should offer a more effective operating model, customized for each country. To achieve the best possible outcome we also need our development banks to work together as an ecosystem, closely with other public institutions and streamlined vertical funds and, where appropriate, with philanthropists, sovereign wealth funds, private finance and civil society.
(…) We will promote a sustainable and inclusive investment agenda in emerging and developing economies, based on local economic added value and transformation, as fertilizing value chains. This all-encompassing approach will require new metrics to update our reporting tools.
Public funding will continue to be essential for achieving our goals. (…) However, we recognize in any case that to meet our development and climate goals, including the war on hunger, poverty and inequality, adaptation to climate change, and the fight to prevent , minimize and remedy losses and damages, we will need new, innovative and sustainable methods of financing (…)
Achieving our development goals, including climate change mitigation, will also depend on private capital flows. This will mean involving and further mobilizing the private sector with its financial resources and its innovative strength, as promoted by the G20 Compact with Africa. This also requires the improvement of the business climate and the implementation of common standards, adequate structures, the reduction of perceived risks, such as in foreign exchange and foreign credit markets. This may require public support as well as the sharing of reliable data. Overall, our system needs to lower the cost of capital for sustainable development, even with a green transition in developing and emerging economies.
(…) In all our international activities and negotiations, we will seek to act concretely so as to fulfill the promise of the United Nations Development Goals for our prosperity, for all human beings and for the planet.
Emmanuel Macron, president of France
Mia Mottley, Prime Minister of Barbados
Luiz Inácio Lula da Silva, president of Brazil
Ursula von der Leyen, president of the European Commission
Charles Michel, President of the European Council
Olaf Scholz, Chancellor of Germany
Fumio Kishida, Prime Minister of Japan
William Ruto, President of Kenya
Macky Sall, President of Senegal
Cyril Ramaphosa, President of South Africa
Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates
Rishi Sunak, Prime Minister of the United Kingdom
Joe Biden, president of the United States
Translation by Anna Bissanti
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