COP 29
The closing days of COP29 in Baku, Azerbaijan, have been marked by growing outrage over insufficient climate financing commitments from the wealthiest nations. Despite a proposed $1.3 trillion annual target for climate finance by 2035, the draft agreement only requires $250 billion annually from rich countries. Climate justice activists and civil society groups protested, decrying the proposal as an insult to the Global South, which bears the brunt of the climate crisis.Arnold Jason Del Rosario, a prominent activist, stated, "We are not demanding charity. We are demanding justice." Protesters echoed calls for "trillions, not billions" to address the scale of the crisis. Haneen Shaheen highlighted the historical exploitation of the Global South and called for reparative climate finance, saying, "It’s our money. You’ve taken it for hundreds of years. Pay up now!"
Activists also emphasized the need for public, grant-based financing rather than debt-inducing loans or private-sector schemes, which perpetuate inequality. Collin Rees of OCI warned against relying on the very corporations that fueled the crisis, demanding accountability and meaningful action.
This summit, branded the "Finance COP," highlights a glaring inequity: the world’s richest nations, who have profited from decades of industrial pollution, are offering far too little to the country's most vulnerable to climate change. As Rimsha Rehan passionately noted, “They owe us. We don’t owe them.”
COP29 must rise to this challenge. Anything less than bold, equitable, and grant-based climate finance will fail to address the urgent needs of our planet and its people.
For more go to: https://callforsocialjustice.b
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