France's Macron says world is losing battle against climate change

Arnold Schwarzenegger, speaking at a climate change summit in Paris on Tuesday, admonished U.S. President Donald Trump for his refusal to sign on to an internationalaccord ratified by 170 countries.

"The United States did not drop out of the Paris agreement. Donald Trump got Donald Trump out of the Paris agreement,"said the actor and former California governor.

Schwarzenegger blasts Trump

7 years ago

Duration 0:26

Actor and ex-California governor says U.S. did not pull out of Paris climate accord, Trump did

Trump's move was a common theme at the One Planet Summit, convened byFrench President Emmanuel Macron and attended by more than50 world leaders, as well asCEOs, celebrities, philanthropists and investment fund managers.

Macron said Tuesday "we are losing thebattle" against climate change.

"We're not moving quick enough. We all need to act," Macronsaid, seeking to breathe new life into efforts to combat climate change on the second anniversary of the Paris accord.

The summitisaimed at finding billions of dollars of financing to helppoor countries and industries reduce their greenhouse gas emissions.

Officials opened the One Planet Summit bysaying investors and the entire global financial system need toshift more quickly toward energy and businesses that don't worsen climatechange.

Trump a 'rallying cry'

During the summit, Macron's office announced a dozen international projects that will inject hundreds of millions of dollars in efforts to curb climate change and its effects.

The projects include a program for eight U.S. states to developelectric vehicles, an investment fund for the hurricane-hit Caribbean and money from Bill Gates's foundation to help farmers.

Other announcements at the summit include:

• Norwegian pension fundStorebrandwill launch a new$1.9-billion bond that will exclude investments in fossil fuel companies.
• Dutch bank INGsaid that by end 2025 it willstop funding any utility that relies on coal for more than fiveper cent of its energy.
• Belgium, following the lead of countries like Poland and France,will issue its first bond for use in financing projectsto reduce the country's carbon emissions.
• The World Bank said it will no longer finance upstream oil and gas projects after 2019, apart from certain gas projects the poorest countries in exceptional circumstances.

Environmental groups welcomed the World Bank's move.

"The World Bank ... has sent a damning vote of no confidence to the future of the fossil fuel industry," Greenpeace International climate campaigner Gyorgy Dallos said, challengingbanks to follow suit.

Stephen Kretzmann, of the Oil Change International advocacygroup, said it was time for all of the institutions, countries, investors and individuals who are still in the Paris agreement to stop funding fossil fuels.

Trump not invited

Macrondid not invite Trump, but the U.S. was representedat the summit.

Former New York City mayor Michael Bloombergtold the gathering that 237companiesinclude construction firms, energy companies and financial institutions from 29 countrieshave pledged greater transparency on reporting climate-related risks in their businesses. The number of companies in the voluntary program led by Bloomberghas more than doubled since June, he said.

Bloomberg said in a tongue-in-cheekstatement that environmentalists owe Trump a debtof gratitude for acting as a "rallying cry" for action on climatechange.

Bloomberg said Trump's decision towithdraw from the agreement, whichwas decried by many world leaders, has actually spurred thousands to action.

Bill Gates, Sean Penn andElonMusk are among otherprominent American figures in attendance.

Security for the summit is tight. Around3,100 security personnel are fanned out around Paris forthe event, including extra patrol boats along the Seine River.