Greta Thunberg labels COP29 climate finance draft a "complete disaster," criticizing its failure to protect vulnerable nations.
Renowned climate activist Greta Thunberg has fiercely criticized the draft climate finance proposal for developing nations at COP29, calling it "a complete disaster" and a "death sentence" for millions vulnerable to the climate crisis. Her remarks came as this year's UN climate conference in Baku, originally set to conclude on Friday, extended into overtime, with negotiations continuing through the night.
The draft climate finance package, released on Friday, included a proposal from developed nations to increase annual climate finance to USD 250 billion by 2035. This figure has been sharply criticized by activists and developing countries alike.
In a scathing post on X (formerly Twitter), Thunberg wrote: "As the COP29 climate meeting is reaching its end, it should not come as a surprise that yet another COP is failing. The current draft is a complete disaster." She called it another betrayal by those in power, adding, "The people in power are yet again about to agree to a death sentence to the countless people whose lives have been or will be ruined by the climate crisis... The current text is full of false solutions and empty promises."
Thunberg accused Global North countries of failing to repay their "climate debt," highlighting the absence of critical financial contributions from these nations. The negotiations this year are taking place against the backdrop of what is likely to be the hottest year on record, with global greenhouse gas emissions reaching an all-time high last year.
Frustrated with the COP process, Thunberg said it was complicit in perpetuating injustice. "The COP processes aren’t just failing us, they are part of a larger system built on injustice and designed to sacrifice current and future generations for the opportunity of a few to keep making unimaginable profits and continue to exploit the planet and people," she said.
At COP29, countries are tasked with reaching an agreement on a new climate finance package to assist developing nations in cutting greenhouse gas emissions and adapting to a warming world. Developing countries have been demanding at least USD 1.3 trillion annually—13 times the USD 100 billion pledged in 2009—starting in 2025, to address their escalating climate challenges. They have emphasized that a significant portion of this amount should come from public funding from developed nations.
On Friday, developing countries sharply criticized the USD 250 billion proposal, calling it grossly insufficient. Civil society members held a silent march at the summit venue, urging developed nations—responsible for most of the greenhouse gas emissions driving climate change—to "pay up." Experts have pointed out the lack of grants, low-cost finance, and specific allocations for the most vulnerable nations.
(This story has been slightly reworked from an auto-generated PTI feed.)