Wealthy nations pledge US$100B for environmental protection in poor countries

French President Emmanuel Macron announced on Friday that wealthy countries aim to establish a US$100 billion fund to assist poor nations in conserving biodiversity and protecting forests.

The announcement came during a panel discussion at the Paris Economic Forum, where measures by the International Monetary Fund (IMF) and the World Bank to increase funding for developing countries facing the impacts of climate change were also presented.

The fund proposed by Macron seeks to augment crisis financing for low-income countries, alleviate their debt burdens, reform post-war financial systems in Ukraine, and mobilize resources for combating climate change.

While the announced amount is still insufficient for the plans of wealthy nations, it signals a shifting attitude among these countries regarding their participation in projects for the climate transition of poorer nations.