The New Global Financing Pact Summit kicked off in Paris, France, with globalist heads of state proposing ambitious changes to the current financial system to accommodate climate change and redistribute wealth.
The summit’s agenda was to “provide the opportunity to examine interactions between multilateral development bank reform, mobilization of private capital, climate finance, green infrastructure and solutions related to debt” for “a more balanced financial partnership between the North and South.” The summit was supposed to be a “decisive political moment” to achieve the Addis Ababa Action Agenda climate commitments.
Forty heads of state attended the summit alongside other globalists, such as the United Nations Secretary-General Antonio Guterres, US Treasury Secretary Janet Yellen, IMF Managing Director Kristalina Georgieva, and World Bank President Ajay Banga.
They discussed tackling poverty without overlooking planet-heating emissions. Although they acknowledged “the spiraling cost of weather disasters intensified by global warming,” they conveniently ignored the impacts of a recession and the historic inflation the world is experiencing. They attributed the current economic crisis to the pandemic and the war in Ukraine while ignoring the banks’ and governments’ role.
Unsurprisingly, world organizations such as the World Bank are also increasingly concerned about climate change than actual economic issues such as inflation and recession, which should be their primary focus.
Yet the known impacts of inflation and recession overshadow the perceived economic impacts of climate change. Nevertheless, the globalists attempted to link poverty to climate change to justify their attempt to wreck the current financial system.
Some of the proposed solutions to climate change included taxing emissions which would exacerbate inflation and recession and impoverish more people than climate change would.
The host, French President Emmanuel Macron, said, “The world needs a public finance shock” as the existing financial system cannot adequately address the challenges of climate change.
Macron is backing the proposal to tax the shipping industry for carbon emissions, a cost that would eventually be passed to the average consumer, further increasing the prices of commodities.
Some globalists like Barbados Prime Minister Mia Mottley have further suggested a complete overhaul of the World Bank and International Monetary Fund with a focus on climate change.
"What is required of us now is absolute transformation and not reform of our institutions," said Mottley.
Apparentl, the international bodies cannot address climate change in their current form, thus the need to restructure them. The newly reconstructed world bodies would have more powers to control the flow of capital with an emphasis on climate change.
Subsequently, the new financial system would consolidate power in the globalists’ hands while crippling companies and, ultimately, the average citizen with taxes to fund the climate change industrial complex.
Lastly, while reducing the debt burden of developing countries was a key concern for those countries, the globalists focused on how those countries would cut their emissions by spending at least $2.4 trillion. Developed countries would foot the bill, and the globalists would be responsible for redistributing the money to poorer nations. Globalists have demanded $4 trillion to $6 trillion to decarbonize the global economy.
Unfortunately, economic crises in the developed world disproportionately affect developing countries. For example, a recession reduces investment by Westerners in those countries, which increases child labor, causes the collapse of education and agriculture sectors, and other problems worse than climate change. Thus, using climate change to destabilize Western economies would disproportionately hurt the developing economies.
Ultimately, the summit failed to achieve significant progress on various financial issues for the global North and South.
However, the globalists succeeded in calling for a coup on the current financial system and replacing it with green tyranny, with them at the helm.