One Planet Summit - Money should only be used to support renewable energy sources

Following the COP23 and its new alliance, Powering Past Coal, signed by 25 entities to ensure the phasing out of coal from power generation by 2030, the goal of concrete, imminent action against global warming is being pursued in Paris at the One Planet Summit, on 12 December.

The French President, Emmanuel Macron, launched this summit on the symbolic date of the second anniversary of the COP21. Around 50 heads of state, 4000 participants and 1000 journalists, as well as representatives of the private sector such as Arnold Schwarzenegger, Bill Gates and even Leonardo Di Caprio will attend the event. These high-profile Americans in the fight against climate change will be representing the US, as President Donald Trump was not invited to the summit following his withdrawal from the COP23 and denial of global warming.

Some of the main goals of the One Planet Summit are to create organisational changes “as it is the only way to get out of the dead end”, according to Pascal Canfin of WWF France, and to honour the Green Climate Fund. This last topic has been the main source of tension during all of the previous COPs, including this year at the COP23. Finance will clearly have its importance at the summit. Not only will the heads of state have to honour the Green Climate Fund, there is pressure to invest in renewables. It is now imperative for countries to stop financing fossil fuel energies in order to be in line with the objectives of the Paris Agreement.

A total of 100 billion euros was supposed to be raised by the richest countries by 2020, but in reality, only 20 billion euros were collected. However, at the COP23 Germany announced that it will give 50 million euros for the adaptation fund and 50 million euros for the developing countries fund, Sweden 186 million for the two funds and Belgium 10.26 million euros for the developing countries fund. Needless to say,  a lot of effort still has to be made. 

To be able to drive things forward on the financial aspect and to be credible as the host country of the summit, France should seize the occasion to double its financing in order to reach 2.4 billion euros by 2022. Adopting the tax on financial transaction should be done as well, which is supposed to gain 22 billion euros per year and be redistributed, partially, to the international solidarity community and to the climate.

Several events will be organized by NGOs around the event in Paris to support this needed change and, in order to reaffirm the role of public actors (NGOs, towns) in this great matter, the EELV, the French Greens, developed a social pact on Friday 8 November during an evening based on solidarity. The aim? To act promptly for the climate, to assure citizens’ rights are protected from unemployment, conflicts and natural disasters, including public sectors and polluters in this fight. An example we hope will be followed at the One Planet Summit.

 

More information:

- the French Greens’ Social Pact

- the NGO campaign