15 december 2017

Climate Weekly: Macron banks on green capitalism

By Megan Darby, Climate Home Weekly, December 15, 2017

If you care about climate change, you have to give Emmanuel Macron credit for putting it on the agenda of world leaders as an urgent issue.

Whether the French president’s One Planet Summit on Tuesday gave you hope or not, though, depends on how much faith you put in capitalism to solve the problem.

There were signs of the big money shifting from brown to green investments – notably the World Bank’s pledge to stop financing oil and gas exploration and a campaign launched by investor networks worth $26 trillion.

A handful of initiatives among the 60-odd heads of state also gained traction, including the push to clean up shipping Climate Home News revealed last week.

What the summit did not offer was much chance for delegate participation, or addressing tough political questions. “It is a little bit too scripted, it is a little bit too antiseptic,” said Congolese negotiator Tosi Mpanu Mpanu.

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