Christine Lagarde: Remarks at the Summit for a new global financing pact Speech by Ms Christine Lagarde, President of the European Central Bank, at the Summit for a new global financing pact, Paris, 23 June 2023. *** I am truly honoured to be with you here today at this important summit to address the most pressing issue of our time.
Eight years ago in Paris, UN Secretary-General Ban Ki-moon opened the COP21 by stating that "Paris must mark a turning point [-]" towards limiting global warming to 1.5 ° Celsius.1 Today, the window of opportunity to achieve this goal is closing before our eyes: The past eight years have been the warmest on record worldwide2 and the critical 1.5 C threshold for annual temperatures will likely be exceeded in at least one year before 2027.3 Record-breaking droughts, heatwaves and floods are already plaguing the world.