COP29: Non-governmental organizations call for strong funding
Published: Thursday, Nov 7th 2024, 15:10
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Ahead of the start of the United Nations World Climate Summit in Azerbaijan on Monday, Alliance Sud and the WWF are calling for 1,000 billion dollars a year for climate protection in the countries of the South. Switzerland must offer a hand for public financing.
The international climate conference COP29 in Baku must set a new target for aid to developing countries to achieve the climate targets after 2025 by November 22. This will replace the 100 billion US dollars per year agreed in 2009, which was only just reached in 2022.
"It is obvious that the new financing target to be confirmed at COP29 requires a completely different dimension than the one that has been in force up to now," Laurent Matile from the development policy working group Alliance Sud was quoted as saying in a communiqué on Thursday.
The aid organizations point out that the poorest people suffer the most from climate change, but can do the least about it. The consideration of climate-related losses and damage in the new financing target is therefore a key element in accordance with the polluter pays principle.
The WWF also supports a tenfold increase in the previous financing target to 1000 billion dollars. UN experts estimate the annual financial requirement for implementing the Paris Climate Agreement in the Global South at 2,400 billion dollars.
Alliance Sud and the WWF criticize Switzerland's focus on private investment in the Global South. In doing so, it is disregarding the fact that private money flows have so far moved to the North due to tax evasion and high interest rates in poor countries.
©Keystone/SDA
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