Hollande to CEOs: Fight terror, climate change

French President Francois Hollande looks on during a conference in Milan, Oct. 8, 2014.
Reuters
French President Francois Hollande looks on during a conference in Milan, Oct. 8, 2014.

French President François Hollande called on the business community to fight terrorism after the recent deadly attacks in Paris.

"You, the lifeblood of the economic world, the heads of the major corporations, I would ask you not only to be watchful, I would ask you to get involved," Hollande said Friday before delegates at the World Economic Forum in Davos, Switzerland.

He said digital companies, especially, should monitor illegal content to make it inaccessible and establish clear rules around it. He also called on the financial system to dry up sources of terror financing, like offshore tax havens and money laundering.

"All of these measures are in our common interest. Please, do not leave it too late," Hollande said.

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Hollande also called on business to fight global warming.

Climate change "looms over the very future of our world," he said. "That is the major challenge of the 21st century," he added later.

He called on large companies to contribute to the United Nations "Green Climate Fund" in advance of a major climate change summit in Paris late this year. France has already committed $1 billion to the fund, which will help developing countries fight global warming.

Hollande said $90 billion of $100 billion is needed to be raised by June given the $10 billion contributed now. While governments are the major donors, Hollande said companies also should give.

"They are creating better investment opportunities and markets for the future," Hollande said of the business case for giving to the fund.

He also called on additional capital to be invested in a "new green economy" as part of an initiative called the Paris Alliance for the Climate.

Some of the solution, Hollande said in Davos, was a global market for green bonds and carbon prices.