BY OMAR ELMAWI
As COP29 continues in Baku, Azerbaijan, with more than 66,000 people expected to make the climate pilgrimage, the stakes have never been higher.
The United Nations Secretary General António Guterres was crystal clear during his speech in Baku: “The G20 [developed countries] accounts for about 80 per cent of global emissions. And it is an injustice that must end!”
These words are a stark reminder of the urgent need for action – especially when the world’s poorest, who contribute the least to the climate crisis, are suff ering the most.
For the next fortnight, negotiators will be locked in tense discussions, trying to steer the course of global climate policy. This year’s COP is expected to focus heavily on finance, a critical component in unlocking the ambition necessary to tackle the climate crisis head-on.
The reality, however, is that most of the previous COPs have left us with promises, not results. While COP28 marked a pivotal moment with making operational the Loss and Damage Fund, the funds committed thus far are not nearly enough to address the mounting climate disaster, particularly in the Global South, where floods, droughts and cyclones are wreaking havoc.
As a resident of the Global South - and particularly of Africa, where I have witnessed the devastating effects of climate change firsthand - I know that the narrative often gets lost in numbers and rhetoric. Africa, home to more than one billion people, has contributed the least to the climate crisis.
Yet, it bears the brunt of its effects, with inadequate resources and infrastructure to cope. It is a profound injustice that needs to be addressed urgently and equitably. The focus now must shift from mere promises to real, enforceable financial commitments.
How much is enough to meet the needs of those most affected?
The estimate floated around is a hefty $5 trillion annually.
This is not a lot of money if we consider the trillions governments routinely pour into fossil fuel subsidies (over $7 trillion in 2022 alone) or military expenditures ($1.3 trillion by NATO), the figure for climate finance begins to seem far more modest.
Kenya, represented by Prime Cabinet Secretary Musalia Mudavadi, was also represented, echoing the Africa Group of Negotiators’ demand for $1.3 trillion annually in climate finance. This figure is based on the cost of rebuilding communities devastated by extreme weather events.
In Kenya alone, more than 200 people have died from floods in recent months, and more than 200,000 have been displaced.
Yet, while the Global South faces catastrophe, the G20 countries that are the primary emitters of greenhouse gases continue to drag their feet on financing the response. The challenge is not just agreeing on the figures but ensuring that the funds are directed where they are needed most. The path ahead is fraught with obstacles. Fossil fuel-rich nations and industries, whose profits are deeply tied to the status quo, will do everything in their power to block progress.
Already more than 1,700 fossil fuel lobbyists are attending this COP and doing everything in their power to derail it. Add to this the surrounding US politics – the climate-denying President Trump returning to power in January could embolden other nations to renege on their commitments, seeking cover under America’s retreat from climate responsibility. Thus far, COP29 has begun on a slow note.
The most notable announcement has been Sweden’s additional $19 million commitment to the Loss and Damage Fund, a drop in the ocean compared to what’s needed. But time is running out. The UNSG’s warning that “the sound we hear is the ticking clock” is more than just a metaphor - it is a cry for urgency. COP29 is a crucial moment in our fight for a liveable planet.
The choices made here will either pave the
way for a future where climate justice is a reality or
condemn billions to suffer even more devastating
impacts. Our leaders must remember that their
true allegiance is to the people and not to fossil fuel
interests. The world is watching, and the clock is ticking. It’s
time for action, not more empty promises. We cannot
afford to waste this moment.
