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vantagefeed.com > Blog > Environment > Activists slam COP29 funding deal
Activists slam COP29 funding deal
Environment

Activists slam COP29 funding deal

Vantage Feed
Last updated: November 26, 2024 12:32 am
Vantage Feed Published November 26, 2024
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She added that it was “deeply shameful” that the government had failed to put aside their differences for the sake of the most vulnerable.

Just Stop Oil urges people to “get off their screens and take to the streets,” saying, “With 29 COPs leading the fossil fuel lobby, the world remains on a path to runaway collapse.” added.

Extinction Rebellion also slammed Summit. “The clue is in the name. Next year, countries will make their 30th attempt. What is clear is that the era of oil and gas must end quickly, fairly, and forever.”

Mohamed Addo, director of energy and climate think tank PowerShift Africa, called the summit “the worst led conference in COP history.” “Not only was this a very weak COP29 agreement, it was pushed through over the objections of many countries.

“Azerbaijan’s dictatorship may use bulldozers in its protests against its own people, but it cannot bully the United Nations process in the same way.”

Developed countries were more optimistic. US President Joe Biden said the conference set “ambitious international climate finance goals”, although “substantive work” still remains.

“Some may try to deny or slow the clean energy revolution underway in America and around the world, but no one can reverse it, no one,” he said.

EU Climate Commissioner Wopke Hoekstra commented that the COP marks the beginning of a “new era in climate finance.” “This COP achieved ambitious and realistic goals and expanded our donor base. With these funds and this structure, we are confident we will reach $1.3 trillion.”

replenishment

Some are looking forward to next month’s World Bank International Development Association (IDA) meeting. IDA provides concessional loans and grants to low-income countries.

Governments plan to “replenish” IDA with funds in December. World Bank President Ajay Banga has called for the supply to be the “largest in history,” and African leaders are calling on donors to provide at least $120 billion.

In the past few weeks, several countries have announced new contributions, including the United States ($4 billion), Norway ($450 million), and South Korea ($600 million).

Jamie Drummond, Director of Network Sharing Strategy, said: “Baku’s energy and frustration will continue to fuel the replenishment of the World Bank’s People and Earth Fund, also known as IDA, with a key summit in South Korea in the coming weeks.” We have to refocus on that.” time. “

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