At the entrance to the COP29 venue this morning, about 50 protesters gathered to urge wealthy nations to meet their financial commitments to climate change adaptation and mitigation in the Global South. As COP29 negotiations continue, activists are stressing the need for fair and equitable climate finance that takes into account historical emissions and avoids adding to the debt of developing nations.
Teresa Anderson, representing ActionAid International, highlighted the severe financial and environmental burden on the Global South, which is disproportionately affected by climate-induced disasters. Her powerful message echoed the urgency of climate finance reform, stating: “The Global South is paying for floods… for droughts… for sea level rise… and trying to adapt to future impacts. On top of that, they are supposed to pay to mitigate and adopt green technologies, but they can’t do that because they are overwhelmed by debt.”
Protesters argue that rich countries, responsible for the bulk of historical greenhouse gas (GHG) emissions, need to do more than offer loans or private investments disguised as climate finance. Anderson criticized the financial burden that more loans represent for the Global South, saying: “It’s really important that rich countries stop trying to prop up the Global South with even more loans or private investments… by pretending that it’s climate finance. It’s complete rubbish. The Global South is already drowning in debt thanks to the climate crisis.”
Climate colonialism and climate apartheid
COP29 activists highlighted the issues of “climate colonialism” and “climate apartheid.” Climate colonialism refers to the way in which rich nations use their resources to implement climate solutions abroad, often prioritizing profit over the well-being of local communities. The Global North’s willingness to support reforestation or renewable energy projects in the Global South sometimes leads to the displacement of indigenous communities, exacerbating historical inequalities.
Climate apartheid highlights how wealth disparity affects resilience to climate impacts. Resource-rich countries are better equipped to adapt to climate threats, while poorer nations bear the brunt of the climate crisis with fewer resources to rebuild and protect their communities. This disparity is leading to increasingly frequent and severe poverty, displacement, and infrastructure loss in the Global South.
Calls for just climate solutions
Protesters are demanding that COP29 negotiations focus on “loss and damage” funding to support countries that lack the resources to adapt to or recover from climate disasters. The establishment of a loss and damage fund last year was a significant step forward, but only about $700 million has been pledged, far short of the estimated $580 billion needed by 2033.
Climate justice advocates insist that a solution to the climate crisis must include the voices of the global South, indigenous communities, and environmental defenders on the front lines. They argue that these groups, who have contributed the least to GHG emissions, hold invaluable knowledge for climate adaptation.