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– If the financial sector continues as before, driven by profit and short-term speculation, it will die. Then there is nothing for the middle class out there, nothing for ordinary people, says Macron.
He received on Friday Prime Minister Erna Solberg (H) and the head of the oil fund Yngve Slyngstad at the Palais Elyséal in Paris. They participated in a roundtable with the investment funds of heads of state from five other countries – Abu Dhabi, Kuwait, New Zealand, Saudi Arabia and Qatar.
At the meeting, the six funds presented a new framework for climate-friendly investments.
Macron Initiative
It is Macron himself who took the initiative to bring the six together. He wanted help to actively invest in the fight to achieve the goals of the Paris climate agreement.
The work was launched at the climate conference held by Macron last December to mark the second anniversary of the Paris Agreement.
Macron now thanks the six funds for the effort. He believes that the framework on which they have agreed can become a reference framework for other investors.
– I strongly hope that more people will join and support the same principles.
The ecological use of oil penetrates
According to Macron, it is a point in itself that many of the countries involved have gained a wealth of oil exports.
He thinks it is proof that the spill can be used actively in the fight against global warming.
Using wealth from the sale of oil and gas to invest in green technologies and climate-friendly solutions, we can move from investment to non-renewable resources and beyond to something sustainable in the long term.
– We can not continue to base the economy on fossil fuels. So we all want to fall, he warns.
Responsibility for the future
Solberg, for his part, insists that the oil fund should not be used directly as a tool in climate policy.
– But the fund is responsible for dealing with future climate risks, she says.
She thinks it is natural for the oil fund to take into account the climate in its investments, because the fund has a long-term perspective and its mission is to economically secure future generations.
According to Macron, the group will meet in New York in September. Then the goal is to encourage more people to sign up.
(© NTB)
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