The Duke of Cambridge has urged global finance leaders to “invest in nature” in order to combat climate change and benefit “our children and grandchildren”.
William’s comments were made in a speech during a session of the World Bank and International Monetary Fund’s virtual Spring Meetings event.
The duke launched his ambitious £50 million Earthshot Prize project in the autumn with his Royal Foundation, which aims to recognise solutions, ideas and technologies that “repair the planet”.
William with Sir David Attenborough, a member of the Earthshot Prize Council (Kensington Palace/The Earthshot Prize)
“We cannot recover sustainably from coronavirus, eradicate global poverty, achieve net zero emissions, or adapt to climate change, without investing in nature,” William said in the pre-recorded video message.
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IMF warns more funding needed to safeguard global economy AFP 5 hrs ago AFP © MANDEL NGAN An activist dressed as Argentina s Evita Peron takes part in a rally calling for debt reform during the virtual Spring Meetings of the World Bank and International Monetary Fund
Warning that the recovery from the pandemic crisis is not yet over, the IMF on Thursday called on policymakers to continue to spend money to shore up the global economy and ensure no one is left behind.
Without that aid, and additional financing from both the fund and the World Bank, developing nations and the poor in many countries could struggle to rebound from the downturn caused by Covid-19, the International Monetary Fund said at the conclusion of its spring meeting.
COVID-19: Support grows for raising taxes for recovery
AFP, WASHINGTON
Raising taxes on wealthy firms that have done well during the COVID-19 pandemic is increasingly viewed as a source of revenue to finance recovery efforts, an idea the IMF and the US pushed on Wednesday.
The renewed support for the reforms comes as G20 finance ministers said they would continue work on a minimum corporate tax that would undermine the use of tax havens, with the aim of announcing a deal in July.
As momentum builds for the plan, which has support of France and Germany, Washington is taking the first step announcing details of a plan to raise corporate taxes and clamp down on loopholes to ensure companies making huge profits, at home or overseas, pay a minimum amount to the government.