The two-day Summit for a New Global Financing Pact was held in Paris on June 22 and 23. The conference attracted a host of important globalists and heads of state, including Biden’s climate envoy John Kerry, Treasury Secretary Janet Yellen, French President Emmanuel Macron, German Chancellor Olaf Scholtz, Brazilian President Lula da Silva, European Commission President Ursula von der Leyen, World Bank head Ajay Banga, IMF President Kristalina Georgieva, and UN Secretary-General António Guterres. These and many other globalist movers and shakers headlined the latest in a series of international climate conferences whose purpose is indemnifying poor countries for alleged climate-related injustices. 

According to its official website, the Paris summit had four objectives, namely:

• Restoring fiscal space to countries facing short-term difficulties, especially the most indebted countries
• Promoting private sector development in low-income countries
• Encouraging investment in “green” infrastructure for the energy transition in emerging and developing countries
• Mobilizing innovative financing for countries vulnerable to climate change.

All of these objectives flow from a landmark agreement, reached at the conclusion of last year’s COP27 UN climate conference in Sharm El Sheikh, Egypt, to establish a permanent international fund for “loss and damage payments,” monies to be exacted from wealthy countries and transferred to poor countries in the global south. This unprecedented international transfer of wealth is to be implemented in the name of “climate justice.” In other words, because the climate change allegedly caused by developed countries is adversely affecting the environment and economy in poorer countries, developed countries need to pay for the damage.

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