Aussie, Canada and NZ Climate Ministers: Send Money
13 hours ago Eric Worrall
Essay by Eric Worrall
“… We need a global financial architecture that helps address the existential threat of climate change …”
The climate crisis is this century’s biggest threat. We need a global finance pact that reflects the task ahead
Chris Bowen, Steven Guilbeault and James Shaw
As climate change ministers, we urge multilateral banks to come together to help vulnerable nations, who face cascading challenges
The science is clear. The climate crisis is the biggest single threat we face as a global community. In turn, meeting the goals of the Paris agreement and realising the opportunities of climate action is the task of the 21st century.
No single government can address this alone. Together, we can rise to the challenge.
When leaders gathered in Bretton Woods in 1944 as the second world war was winding to its close, they set themselves a formidable task.
Their job was to design an international financial system that would reduce global recessions and instability, and lead to a steadier international political environment than the one which bedevilled the first half of the 20th century.
The result was imperfect, but nonetheless astounding. The creation of the World Bank and the International Monetary Fund was played an important role in supporting a more stable period through the second half of the 20th century.
If a new Bretton Woods system was being thrashed out today, there would no doubt be agreement that the present task is even greater than that of the 20th century – building a global financial architecture that helps the world stay as close as possible to 1.5C of warming.
https://wattsupwiththat.com/2023/06/25/aussie-canada-and-nz-climate-ministers-send-money/
