Saudi Crown Prince heads Kingdom’s delegation to climate finance summit in Paris

Saudi Arabia’s Crown Prince Mohammed bin Salman headed the Kingdom’s delegation to the New Global Financial Pact Summit that kicked off on Thursday in France’s capital of Paris.

The Crown Prince, who last made a trip to Paris in July 2022, arrived last week in France where he met with President Emmanuel Macron at the Elysée Palace.

Macron opened the climate finance summit by saying changes were needed to the global lending system to ensure that low-income countries “shouldn’t have to choose” between fighting climate change and poverty.

He said the current system was “not completely suited” to address the world’s challenges, adding that a “public finance shock” as well as massive private investment in green technology was needed to help the world transition to a low-carbon economy.