Essential read from African Arguments on how COP29 is failing low-income, climate-impacted countries There is no clarity on the finance goal, the quality of the finance, or how it’s going to be made accessible to vulnerable countries.” “Private finance often comes with terms that are less favourable for low-income countries, including conditions that can lead to debt accumulation”, read a joint statement by the African Group of Negotiators (AGN). “Our stance is that developed countries should first fulfil their obligations for public climate finance.” “We are not here to secure just any deal, but one that ensures the most vulnerable nations receive the support they need to cope with and mitigate climate impacts,” he says. “We need a deal that addresses finance, technology transfer, loss, and damage and ensures robust accountability for the promises made”. "As the first week of the COP29 neared its end, a group of activists from Africa and the Global South gathered to condemn a myriad of “eye-watering false solutions”, including fossil fuels, geoengineering, artificial intelligence, and carbon capture storage. They described such ideas as “colonial extractive tactics” used to hoodwink developing countries. They also cautioned against framing carbon trading as a form of climate finance, saying it only diverts attention from the direct financial needs that developed countries must pay vulnerable countries."
Negotiators and activists from Africa say there has been very little positive progress at COP29 as well as a worrying focus on false solutions .