World and business leaders have pledged billions of dollars and committed to various sporting initiatives aimed at advancing sustainable development, one day before the Olympic Games officially begin.
Almost 500 participants, including 50 heads of state and government, attended Thursday’s summit in Paris, hosted by French President Emmanuel Macron and International Olympic Committee (IOC) President Thomas Bach.
“It’s the synergy of our actions and everything that we can do together with the sports movement that is absolutely essential,” said Macron. “The Games are a way to cast a light on what we are doing and launch new initiatives and thanks to all the donations that have been mobilised for the African, Latin American and Pacific continents and I thank you for the everyday engagement towards this direction.”
The leaders made commitments in areas such as education, employment, health, nutrition, equality, inclusion, and sustainability. A coalition of public development banks and financial institutions pledged $10 billion globally for community-based, inclusive, and sustainable sports infrastructure by 2030.
The French Development Agency announced it will allocate €500 million for sustainable sports development by 2030. Additionally, the IOC revealed a 10% increase in its budget for Olympic solidarity, totaling $650 million (€599 million) for 2025-2028.
With his country slated to host the 2026 Youth Olympic Games, Senegalese President Bassirou Diomaye Faye said, “Olympic ideal is today challenged by the tragedy of war, by violence in every form and by the ever-rising inequality among nations.” This is also the chance to get the attention of the summit to address the unbearable curse or racism, and the racial discrimination which is engrained in sports within a context of trivialization of hate speech and xenophobia.”