Connect with us

Finance

Activists disrupt Paris climate finance meeting before COP26

Activists disrupt Paris climate finance meeting before COP26 1

By Sudip Kar-Gupta

PARIS (Reuters) – Activists disrupted a green finance summit in Paris on Tuesday, saying that French President Emmanuel Macron had failed to get serious on investing in combating climate change.

Macron’s government says it is committed to meeting its climate targets, including going carbon neutral by 2050, in line with the 2015 Paris Agreement on climate change.

Protesters intervened shortly after a speech by French Finance Minister Bruno Le Maire, with one holding a banner reading “Macron: champion of fossil fuel finance“, images published online by action group Les Amis de la Terre showed.

Le Maire said he supported allocating tax revenues from fossil fuels to finance the transition to a greener economy, an idea the government has flagged since early in Macron’s mandate.

“If we guarantee that every euro of tax revenue on petrol, diesel, gas and fuel oil will be allocated … to the fight against global warming, I am convinced that will facilitate financing the ecological transition and make the tax system more acceptable,” Le Maire said.

About 18 activists set off alarms and chanted ‘Your finance, our lives’, while in a nod to Greta Thunberg https://www.reuters.com/world/europe/protests-proposals-activists-face-climate-talks-test-2021-09-28, they complained of the “blah, blah” rhetoric they said was coming from Macron’s government, echoing the words of the environmental campaigner at a pre-COP26 event https://www.reuters.com/business/cop in Italy last month.

A French court this month ordered the state to honour its promises on climate change, insisting it take measures to repair ecological damage and to prevent a further increase of carbon emissions by the end of December 2022 at the latest.

Macron’s government, which is due to attend the COP26 meeting in Glasgow, Scotland next month, was fined 10 million euros ($12 million) by France’s highest administrative court in August for failing to improve air quality.

France will decide soon whether to build new nuclear EPR reactors, Environment Minister Barbara Pompili told a separate event.

France and several other countries have pushed to label nuclear energy as green investments in the European Union’s upcoming sustainable finance rules.

(Reporting by Sudip Kar-Gupta and Matthieu Protard; Writing by Richard Lough; Editing by Alexander Smith)

Editorial & Advertiser disclosure
Our website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Recommended

Newsletters with Secrets & Analysis. Subscribe Now