Civil society groups have urged developing countries to reject “a bad deal” at the UN climate talks on Friday night, after rich nations refused to increase an “insulting” offer of finance to help them tackle the climate crisis.
The stage is set for a bitter row on Saturday over how much money poor countries should receive from the governments of the rich world, which have offered $250bn a year by 2035 to help the poor shift to a low-carbon economy and adapt to the impacts of extreme weather.
That is “nowhere near enough” according to poor country groupings and campaigners at the talks. “This is unacceptable,” said the Alliance of Small Island States in a statement. Climate finance at this level would not enable countries to green their economies to the extent needed to limit global heating to 1.5C above preindustrial levels, they warned. “The proposed $250bn a year by 2035 is no floor, but a cap that will severely stagnate climate action efforts.”
The Global Campaign to Demand Climate Justice said there were growing calls for a walkout, and that “no deal is better than a bad deal”, as the Cop29 UN climate summit dragged on through Friday night. There is still no end in sight to the talks, which were scheduled to finish on Friday at 6pm Baku time.
Read also: Cop29: Rich countries agree to increase climate finance offer to $300bn a year
Wafa Misrar, the campaigns and policy lead of Climate Action Network Africa, said: “[This is] a profound disrespect to the people on the frontlines of the climate crisis – those losing their lives, homes and livelihoods every day. It is disheartening to witness the lack of commitment from global north countries, who seem willing to disregard our realities.”
Safa’ Al Jayoussi, the climate justice lead at Oxfam International, said: “This is a shameful failure of leadership. No deal would be better than a bad deal, but let’s be clear – there is only one option for those grappling with the harshest impacts of climate collapse: trillions, not billions, in public and grants-based finance.”
According to the draft text of a deal circulated on Thursday, developing countries would receive at least $1.3tn a year in climate finance by 2035, which is in line with the demands most submitted in advance of this two-week conference.
But poor nations wanted much more of that headline finance to come directly from rich countries, preferably in the form of grants rather than loans. They said the offer of $250bn coming from rich countries, with few safeguards over how much would come without strings attached, was much too little.
Story was adapted from the Guardian.
