Macron delivered assessment on global fight against climate change to world leaders

Vastavam web: French President Emmanuel Macron delivered a bleak assessment on the global fight against climate change to dozens of world leaders and company executives on Tuesday, telling them: “We are losing the battle”.Macron, who has worked to establish his role as a global leader since his sweeping election win in May, said modern-day science was revealing with each day the danger that global warming posed to the planet, he said.France announced a raft of 12 non-binding commitments, from a $300 million pledge to fight desertification to accelerating the transition toward a decarbonized economy. But there was no headline promise likely to reassure poor nations on the sharp end of climate change that they will be better able to cope.

Among the commitments, more than 200 institutional investors with $26 trillion in assets under management said on Tuesday they would step up pressure on the world’s biggest corporate greenhouse gas emitters to combat climate change.The European Commission, meanwhile, said it was “looking positively” at plans to reduce capital requirements for environmentally-friendly investments by banks in a bid to boost the green economy.Climate change is causing more frequent and severe flooding, droughts, storms and heatwaves as average global temperatures rise to new records, sea ice melts in the Arctic and sea levels rise.On Tuesday, the European Commission announced 9 billion euros worth of investments targeting sustainable cities, sustainable energy and sustainable agriculture for Africa and EU neighborhood countries.