The Summit for a New Global Financing Pact, convened by French President Emmanuel Macron in June 2023, brought together world leaders who shared a common diagnosis of the urgent challenges facing the global community: the need to eliminate poverty and protect the planet through a unified agenda. The Summit culminated in the endorsement of the Paris Pact for People and the Planet (4P), designed to generate political momentum for reforming the international financial architecture. With the support of over 70 countries across all income levels and regions, the 4P serves as a collective platform to advance a more inclusive global governance system and to help mobilise the investments and actions needed to close the Sustainable Development Goals financing gap.
The four core principles of the 4P are:
- No country should have to choose between fighting poverty and addressing climate change;
- Each nation must define its own transition strategy;
- Significantly more public finance is needed for vulnerable economies;
- Private finance must be mobilised at greater scale.
The 4P Community works together in an inclusive and action-oriented fashion through the 4P Secretariat and the 4P coalitions.