Money was on everybody’s mind at the climate summit meeting organized here on Tuesday, as President Emmanuel Macron of France tried to shore up support for the Paris climate deal by urging heads of state, chief executives and investors to commit more funding to the fight against global warming.

But the gathering was overshadowed by President Trump’s promise to pull the United States out of the deal, a move that has cast doubt on the ability of the international community to meet the emission goals that were set two years ago when the pact was adopted.

“We are losing the battle,” Mr. Macron said in his speech opening the talks. He called Mr. Trump’s decision to pull out of the Paris deal “very bad news,” but added that “many have decided to not necessarily accept the American federal government’s decision to leave the Paris agreement.”

“Second, we are not going fast enough,” Mr. Macron said. “What we are starting today is the time of action, because the urgency has become permanent and the challenge of our generation is to act.”

Several announcements by states, companies and international organizations were made at the meeting, aimed at helping industries and poorer countries reduce their greenhouse gas emissions and at shifting private investment away from fossil fuels toward cleaner, renewable energies.
Source: Nytimes.com