Baku climate summit COP29 crucial for most vulnerable communities
From 11 to 22 November, world leaders will meet in Baku to reach new agreements on climate policies. Will rich countries finally deliver on their Paris Agreement pledge to financially support developing countries in reducing their emissions and adapting to climate change?
Simavi will be present at COP29. We will be there - together with other civil society organisations working together in the International Climate Coalition - to draw attention to those who are hit the hardest by the climate crisis: the billions of people in climate-vulnerable areas who are already living with the devastating effects of climate change.
The climate summit in Baku promises to be a defining moment for them. Because this year's climate conference revolves around setting a new, equitable funding target. This should enable developing countries to adapt to climate change, repair damage where it is no longer possible and move towards a sustainable future.
The International Climate Coalition calls for the financing target to be set at a minimum of $1,000 billion a year - in the form of grants. Indeed, climate finance in the form of loans is driving many of the most vulnerable countries further into debt. Simavi's climate expert Esin Erdoğan: 'We cannot have countries vulnerable to climate change paying more in debt servicing than they receive in climate finance.'
