President William Ruto has emphasized that the Pact for Prosperity, People, and Planet (4P) is a bold initiative designed to correct systemic inequities in the global financial system and ensure fair climate financing for all nations. Speaking on Monday during the high-level 4P meeting he co-chaired with French President Emmanuel Macron at the Fourth International Conference on Financing for Development, Ruto underscored the pact’s transformative goal to unify global efforts in fighting poverty and addressing climate change without forcing countries to choose between the two.
Ruto reiterated that the pact, now backed by 73 countries, is not a contest between the Global North and South but a collaborative effort to implement inclusive financial reforms. “We are not pointing fingers or exchanging narratives. This is not about South versus North; it’s about finding solutions that work for everyone,” he said.
He praised the rapid progress of the 4P initiative, calling it a testament to the dedication of its Secretariat and the political will of participating nations. According to Ruto, the pact champions a new global development model that integrates climate action and economic advancement into a coherent, inclusive strategy.
President Ruto further challenged governments, especially in developing countries, to boost domestic resource mobilisation and reduce over-reliance on international institutions. “We cannot wholly depend on external solutions to meet our challenges,” he said, adding that the private sector must also be empowered to play a greater role in delivering essential public services like healthcare.
Echoing similar sentiments, President Macron cautioned against divisive narratives. “The only chance we have is to work together with respect,” he said, noting that a unified global approach is crucial to advancing the shared goals of prosperity and sustainability.
The 4P pact represents a significant shift in the global financial discourse, highlighting the urgency of reforming multilateral financial institutions to better serve the needs of developing nations. It also signals a growing consensus that the fight against poverty and climate change must be approached together through fairness, inclusivity, and shared responsibility.
