Macron: Final Formula for $100 Billion Climate Aid

French President Emmanuel Macron announced today, Friday, that wealthy countries have finalized a delayed commitment of $100 billion to finance climate change efforts in developing nations. Macron was speaking during a closing session of a summit in Paris, where around 40 leaders, including nearly 20 from Africa, along with the Prime Minister of China and the President of Brazil, gathered to give momentum to a new global financial agenda. The goal of the summit is to enhance crisis financing for low-income countries, alleviate their debt burdens, reform financial systems after wars, and provide funds to combat climate change, by achieving consensus at the highest levels on how to bolster several stalled initiatives from groups such as the G20, the United Nations Climate Change Conference (COP), the International Monetary Fund, the World Bank, and the United Nations. The $100 billion commitment is far less than the actual needs of poor countries, but it has become a symbol of the failure of wealthy nations to deliver on financial pledges to combat climate change. This has led to a lack of trust in broader climate negotiations among countries trying to enhance measures to reduce carbon dioxide emissions.