Paris summit: First step toward new global finance system?

June 24, 2023

summit on global finance has brought together world leaders, international institutions and NGOs in Paris. It could be the beginning of a policy shift in international finance.


could be seen as just another international meeting coming on top of regular climate conferences of parties (COP) and gatherings by the G7 and G20, the world’s seven and 20 most advanced economies.

For two days, the Palais Brongniart, a neoclassical building that used to house the stock exchange in the center of Paris, was filled to the bursting point with the roughly 1,500 participants, including 40 heads of state.

The summit was so heavily attended that most journalists couldn’t get accreditation and had to follow events via an online livestream.

But France’s President Emmanuel Macron insisted at the closing press conference that the summit was a watershed moment.

“These two days have allowed us to build a new consensus for the planet. We have come up with a document detailing a shared political view structuring the way toward a profound reform of international financial architecture and governance,” he said.

“This summit is designed to build unity amongst the members of the international community regarding our response to the double challenge we are facing: the fight against inequalities and climate change,” Macron added.