8 September 2023

NOTWe are actively working to do more for people and for the planet. The accumulation of multiple crises has strained the ability of countries to address hunger, poverty and inequality, build their resilience and invest in their future. Debt vulnerabilities severely hamper the economic recovery of low- and middle-income countries and their ability to make critical long-term investments.

We work tirelessly to fight poverty and inequality. Over the past three years, an estimated 120 million people have fallen into extreme poverty, and much remains to be done to achieve the United Nations Sustainable Development Goals (SDGs) by 2030. We must therefore put people at the heart of our strategy to improve the well-being of people everywhere on the planet.

We want our system to better meet the needs of development and fight against vulnerabilities, now increased by climate risks and which risk weakening the capacities of countries to reduce poverty and achieve inclusive economic growth. Disasters caused by climate change will increase in intensity and frequency, and will disproportionately affect the world’s poorest and most vulnerable people. These issues know no borders, and pose an existential risk to our societies and our economies.

Renewing our business models

We want our system to do more for the planet. Current generations have the opportunity to lead the way to a new era of sustainable global economic growth, through the transition to a net-zero emissions world and the implementation of the Paris Agreement goals. We are convinced that just ecological transitions that leave no one behind can be an important factor in reducing poverty and supporting sustainable and inclusive development. This requires long-term investment everywhere around the world to give all countries the opportunity to benefit. Inspired by the Kunming-Montreal Global Biodiversity Framework, which is a landmark achievement (in December 2022)we need new economic models that recognize the immense value of nature to humanity.

We are convinced that reducing poverty and protecting the planet are complementary objectives. We must make just and inclusive transitions a priority so that the poor and most vulnerable can fully benefit from them, without having to bear the disproportionate cost. We know that depending on national situations, countries are likely to adopt different transition scenarios in line with the 1.5°C temperature limit objective. The transition will not happen without solidarity, without economic prospects or without sustainable growth to finance it.

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