“We have to look at all the tax solutions, it’s the only way to respond globally to climate change”, explains Mélinda French Gates

Among the speakers at the summit for a new global financial pact, which is being held until tomorrow at the Palais Brongniart in Paris, is Melinda French Gates. Co-president of a foundation which drains tens of billions of dollars, she considers that rich countries have a major role to play in helping the poorest countries in the context of climate change.

“My message is that we need to listen to the countries of the South. They are extremely impacted by climate change today. We have to listen to their needs and we also have to help them with their debt, inject more money into the system so that they can continue to make investments for their development, for the health, for the education of their population, so that they develop, that they have more possibilities and jobs and that it can deal with climate change”, says Melinda French Gates, former wife of Bill Gates, the founder of Microsoft, at the head of the foundation that bears their two names.

The role of the private sector

Its message is addressed both to the richest countries on the planet and also to international institutions, such as the IMF and the World Bank. “We say to all nations, especially the G7, that we cannot leave the world behind,” according to Melinda French Gates. In 2009 we had promised 100 billion per year to the poorest countries for the climate. After the Covid, the G20 promised 100 billion more through the IMF.

But the poorest countries received only 40% of this sum. Melinda French Gates also thinks the private sector has a role to play. “There is a global financial architecture that starts at the state level. This is the most important part of this financing. But the private sector has a role to play; you have heard today the call of the World Bank to the private sector, to invite it to invest, particularly in innovation. So we must all get involved, but we must not have any illusions. It is the investments of the States that create change”, assures Melinda French Gates.

Getting shipowners to contribute

President Emmanuel Macron wants to involve shipowners, put in place a carbon tax on maritime transport which has made gigantic profits thanks to the Covid. “We have to look at all the tax solutions and all the tax structures. President Macron was amazing in this summit because he really listened to the voice of the countries of the South to meet their needs and try to consider all the possible solutions and all the roots of the problems. We, as a Foundation, want to explore all possibilities of taxation and financing. This is the only way to respond in solidarity on a planetary basis to climate change”, says Melinda French Gates.