Today's Edition
ISIDORA CIRIC (DUBAI)
“Nature is the best technology available to capture and store CO2,” French President Emmanuel Macron asserted during COP28 Leaders’ Event "Protecting Nature for Climate, Lives, and Livelihoods", highlighting the indispensable role of natural ecosystems in climate mitigation and emphasising the importance of forests and oceans as natural carbon sinks.
The President thanked and congratulated the hosts, the UAE, on the celebration of Union Day, illustrating the unity of global environmental efforts and national pride.
President Macron underscored the value of integrating biodiversity into economic models, arguing for an equitable ecological transition that benefits countries with low emissions and substantial carbon sinks.
“We are investing a lot of money... But the very best one... is forests and oceans,” he noted, advocating for a balanced approach that combines technological innovation with nature conservation.
Reiterating his commitment to forest conservation, President Macron cited recent initiatives, including a summit in Libreville and praised Norway for its leadership in forest investments.
He stressed the need to remunerate forests for their carbon and biodiversity reserves, pointing out a paradox – significant investments in reforestation without adequate focus on preserving existing forests.
Highlighting concrete actions, President Macron announced partnerships with Papua New Guinea for $1 million, Congo-Brazzaville for $50 million, and Democratic Republic of the Congo for $60 million. These partnerships, based on a country-by-country approach, aim to develop high-quality forest economies involving indigenous people and create carbon and biodiversity credits.
Addressing carbon pricing, President Macron discussed the current system’s limitations, particularly for countries with low emissions yet high carbon absorption rates. He proposed an international carbon and biodiversity exchange, aiming to trade high-quality credits under common standards, thereby integrating the carbon credit market globally.
Turning to ocean conservation, President Macron announced France's role in organising the upcoming United Nations Conference on Oceans in Nice. He emphasised the need for a scientific consensus on ocean health, akin to the IPCC for climate, and called for updates to international law, including new treaties on plastic pollution and illegal fishing.
President Macron stressed that biodiversity and climate change are parts of the same fight, requiring unified commitments. He urged for the integration of these agendas into global trade discussions and national policies, emphasising the role of science and indigenous knowledge in shaping solutions.
