Cop29 live updates: global north owes $5tn a year climate debt to global south, say campaigners
Cop29 live updates: global north owes $5tn a year climate debt to global south, say campaigners
Draft decision on article 6 approved with no objections
A huge “climate debt” is owed by the global north to the global south, according to campaigners at Cop29, writes Damian Carrington, environment editor.
“We are asking for the down payment of a very large debt – a down payment of $5tn [a year],” said Tasneem Essop, executive director of Climate Action Network, global alliance of more than 1900 civil society organisations in over 130 countries.
The argument is simple: rich nations prospered by burning fossil fuels and now need to fund poorer nations to avoid the same path, and cope with the severe heatwaves, floods and storms fuelled by global heating and already here.
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I think it's worth taking a more nuanced view on the "global south" vs. "global north" discussion. A lot of the leadership of the "global south" doesn't believe in climate change and they have no interest in any kind of good faith actions on this issue. Why would you give them money with such an attitude?
The whole article speaks about how global north nations should be financially helping poorer global south nations.
Why you thought that blaming poverty-stricken global south nations for not being active enough in battling climate change is beyond me.
I mean they're mostly seen as resources for the north, and often end up in huge debt to to the IMF ... spending billions on paying back loans, etc.
But you just complain about the money instead.
🙄
Is China part of the global south? India?
They are both building out a massive amount of coal powered plants and will continue doing so because it suits their interests. You think giving India and China $1 trillion a year each will change this dynamic?
I can understand specific bi-lateral initiates (or even structured multi-lateral ones). But the whole "global south" discussion is extremely simplistic.
Comparing their population size and per capita, their emission is low though
I am aware of that. And I am also aware of the dynamics of their GDP carbon intensity.
Do you really think if India and China were given $1 trillion a year each they would suddenly stop their expansion of coal power generation or even use a majority of that sum to combat climate change?
I don't have any issues with helping countries combating climate change (financially or otherwise), I do have issues with the "global south" framing.