Save the Children is outraged by the extremely low climate finance figure in the new draft text
Jack Wakefield, Global Policy and Advocacy Lead for Climate Change, said:
“We are outraged by the extremely low finance figure of $250 billion per year by 2035 in the latest draft of the COP29 finance agreement. It fails to meet the calls of lower income countries at the sharp end of the climate crisis, and does not take into account the huge increase in the costs of climate action since the $100 billion goal was agreed in 2009.
"Since then there has already been an alarming increase in the frequency and intensity of extreme weather events. Some of the children who were born that same year were supported by us to come to Baku and spoke powerfully about how cyclones, floods and blistering heatwaves are already pushing them out of school, and how children in their local area have been killed in heavy flooding.
“This finance agreement must keep pace. Let's be clear - these figures will not come close to delivering justice for children and their families on the frontlines of the climate crisis.
“We strongly urge leaders to push for an ambitious and fair agreement that meets the needs of children, their rights, their families and communities in lower-income countries – and one that doesn’t trap them into cycles of perpetual debt for decades to come.”
ENDS
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