President Berset to attend Global Financing Pact Summit in Paris
Bern, 20.06.2023 - President Alain Berset will represent Switzerland this week at the Summit for a New Global Financing Pact in Paris. At the invitation of French President Emmanuel Macron, around 40 heads of state and government, along with the leaders of numerous international organisations and from the private sector are expected to attend the summit on Thursday and Friday. They will discuss how the international financial system can be made more sustainable and inclusive for the future.
The organisers emphasise that the world is facing the greatest challenges in decades; the pandemic not only halted the previously observed reduction in poverty, but has even created greater global inequalities and rifts. In order to achieve the Sustainable Development Goals of the UN's 2030 Agenda, attain carbon neutrality and protect biodiversity, the global community must demonstrate solidarity and ambition. The goal of the coming months is to remodel the architecture of development financing and climate action and so strengthen the international financial system and make it more efficient.
The Paris summit is expected to prepare the ground for decisions at a whole series of high-level meetings. These include the G20 Summit in New Delhi and the Summit on Sustainable Development Goals in New York, both in September, the meeting of the International Monetary Fund and the World Bank in Marrakesh in October, the 28th UN Climate Change Conference (COP 28) in Dubai in mid-December, and lastly the UN Summit, which will take place next year.
Fair transition to a low-carbon lifestyle
Future global financial flows will have to be compatible with climate action goals. In order to finance the ‘fair transition' to a low-carbon and climate-smart economy and lifestyle, Switzerland believes among other things that there should be an appropriate global price for carbon and a closer partnership between states and the private sector. What is also needed is greater transparency in relation to climate risks and impacts, especially in the financial sector, and internationally comparable indicators so that the targets and measures set by companies can be properly assessed.
Switzerland also believes it is important for international financial institutions to play their part in implementing the Sustainable Development Goals. To that end, the multilateral development banks should better coordinate their activities. At the same time, Switzerland is committed to ensuring that existing decision-making and financing mechanisms in the relevant organisations are not called into question or duplicated.
In addition to the demands of the fair transition and the general strengthening of the sustainable development agenda, President Berset will also address a range of current international issues during his bilateral meetings on the sidelines of the Paris Summit.Address for enquiries
Christian Favre, co-head of FDHA Communication,
+41 79 897 61 91, christian.favre@gs-edi.admin.ch
Publisher
General Secretariat FDHA
http://www.edi.admin.ch
