Climate Crisis Solutions May Potentially Solve Global Financial Issues

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Hon Anthony Albanese thinks that finding ways to improve the global climate crisis will allow for a pathway of recovery from the global financial crisis and rising inflation rates across the globe.

Albanese discussed his idea at the B20 Summit, the business summit that ran parallel to the G20 Summit in Bali, Indonesia. The prime minister utilised the opportunity as a keynote speaker, arguing that the recovery process requires coordinated action to ‘recover together and recover stronger.’

“For governments and businesses, investing and developing clean energy will enhance our energy security and strengthen our collective action on climate change,” added Albanese. He noted that countries should reward people for hard work, encouraging entrepreneurship and job creation.

Albanese added that solving the climate crisis will counter the existential risk of a warmer planet and provide an opportunity to retool the global economy for sustainability. “For governments and businesses, investing and developing clean energy will enhance our energy security, and it will strengthen our collective action on climate change,” he adds.

Maeve Bannister, a reporter for Great Lakes Advocate, notes that leaders who joined the Summit gathered in a mangrove forest in Bali. “Indonesian President Joko Widodo has been keen to showcase his commitment to tackling the global issue and encourage his fellow leaders to do the same,” she adds.

Phillip Coorey, a political editor for the Financial Review, noted that Albanese called for investing in clean energy. “Albanese also advocates infrastructure and clean energy investment, upholding free trade principles by breaking down tariff walls and building trade bridges, strengthening and diversifying supply chains to guard against future shocks, investing in skills and technology, and helping developing nations manage debt.”

The Summit ended with president Widodo handing over the G20 baton to Indian Prime Minister Narendra Modi, who will host next year’s summit. Albanese brought a business delegation to Jakarta as part of his trade diversification strategy with the country.

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