On the eve of the One Planet Summit organised in the French capital, the space agencies' chiefs met to discuss climate monitoring from space, including such areas as greenhouse gases, water resource management and the use of satellites during natural disasters. It is also on track to meet its target of 28 percent of its lending going to climate action by 2020 and to meeting the goals of its Climate Change Action Plan that was developed after the Paris accord.
It added that more than half of the 50 essential climate variables could be measured only from space.
On Tuesday, a spokeswoman for Macron said in an email to TIME that the Elysée Palace had been "open to invite President Trump, but after discussion with the U.S. administraion they told us that the good level for sending an invitation was the U.S. Embassy in France".
The projects include a program for eight US states to develop electric vehicles, an investment fund for the hurricane-hit Caribbean and money from Bill Gates's foundation to help farmers.
Absent at the talks were the Russian space agency and the US National Oceanic and Atmospheric Administration (NOAA).
French President Emmanuel Macron, UN Secretary-General Antonio Guterres and World Bank Group President Jim Yong Kim hosted the summit meeting.
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 global accord ratified by 170 countries. This would not include divesting from companies with large fossil fuel holdings, however.
The bank noted in a statement that "in exceptional circumstances, consideration will be given to financing upstream gas in the poorest countries where there is a clear benefit in terms of energy access for the poor and the project fits within the countries' Paris Agreement commitments".
Environmental groups welcomed the World Bank's move.
Arnold Schwarzenegger, the famed actor and former California governor, is also attending the summit, according to the Associated Press. "And that has been very helpful", former New York Mayor Michael Bloomberg said at a press conference in Paris, when TIME asked whether the USA withdrawal from the climate agreement would damage efforts to reduce global carbon emissions.
"You will now settle in, develop projects, enrich French, European research, because we've chose to give even bigger resources and to fully recognize what you are doing", Macron said in a speech at Station F, a start-up incubator in Paris.
More than 200 companies pledged greater transparency on reporting climate-related risks in their businesses as part of a voluntary program led by Michael Bloomberg.
Dutch bank ING said that by end 2025 it will stop funding any utility that relies on coal for more than five per cent of its energy.
Norwegian pension fund Storebrand said it's expanding its portfolio of fossil fuel-free investments to more than $3 billion.
PadMan trailer review: Akshay Kumar should be declared a social hero…
He is that man who gifts sanitary napkins to his sisters on Rakhi and makes sure that his wife is healthy in "those" days. I have lived with women all my life, yet I have learnt more about the topic while making this film than ever before.