'Complete disaster': Greta Thunberg slams COP29 climate finance draft
What's the story
Swedish environmental activist Greta Thunberg has slammed the COP29 climate finance draft, calling it a "complete disaster" and a "death sentence" for millions vulnerable to the climate crisis. The contentious draft suggests increasing climate finance to $250 billion annually by 2035—a proposal that has drawn criticism from both activists and developing nations alike.
Climate debt
Thunberg accuses Global North of shirking 'climate debt'
In a scathing social media post, Thunberg expressed her disappointment with the current leadership's handling of the climate emergency. She accused countries of the Global North of evading their "climate debt." Despite record greenhouse gas emissions, crucial financial support remains elusive, the activist pointed out. Her condemnation mirrors a wider sentiment among many who view COP processes as contributing to global injustice.
The proposal
What was agreed and what wasn't
The new draft outcome text, which is expected to extend this round of talks into the weekend, calls for an overall climate financing goal of "at least $1.3 trillion by 2035." However, it does not provide specifics regarding how these funds will be raised, whether through grants, loans, or contributions from the private sector.