The UN Climate Change Conference in Baku, Azerbaijan concluded with a weak agreement on a new climate finance goal of $300 billion USD by 2035. This outcome falls dismally short of what is needed to address the worsening climate crisis.
Reacting to this, Virginia Benosa-Llorin, Greenpeace Philippines Campaigner said:
“This finance deal is beyond inadequate–it is a betrayal of climate justice and a slap on the face of all developing nations. We have been dragged into a climate crisis that had little to do with us, at the cost of countless lives and trillions in loss and damages.
“Everyone in Baku was well aware of who is to blame. Filipinos and the rest of the global south are living through the consequences of global inaction, of more than a century of industrial emissions from the developed world, and of the greed of fossil fuel companies who continue to rake in profits. This year alone, we were battered by several intense typhoons, including Severe Tropical Storm Carina and Super Typhoon Pepito, which have left an estimate of above 25 billion pesos[1] worth of loss and damage.
“Developed countries must acknowledge their historical responsibility and provide funding through grants, not loans, to help vulnerable nations cope with impossible climate impacts. They must likewise acknowledge that the biggest oil, gas and coal companies sheltered within their borders must be drawn out and compelled to pay up.[2]
“Developing countries such as the Philippines have little to do with the climate crisis, but must nevertheless continue to push for climate justice despite the insulting outcome of COP29. As host of the International Loss and Damage Fund Board, we urge the Philippine government to do everything in its capacity to get the Global South the financial assistance it is due. We continue to push for the passage of the Climate Accountability (CLIMA), and reiterate our call on President Marcos Jr. to certify it as urgent in order to compel polluting companies to pay for the harm they’ve caused. A strong CLIMA bill, anchored in climate justice, will be proof of concept that, as long as we have the urgent will to act, we can hold these human rights-abusing climate polluters accountable.”[3]
Greenpeace Philippines stands in solidarity with communities demanding urgent climate action and corporate accountability. The fight for climate justice includes holding major polluters responsible and ensuring that vulnerable nations have the support they need to withstand and recover from climate impacts.
Notes to editor:
[1] Estimated cost of agriculture and infrastructure damages from storms and extreme weather events that affected the Philippines in 2024
[2] Enforcing Accountability: Holding Fossil Fuel Companies Liable for the Climate Crisis, a policy brief from Greenpeace Philippines outlining the urgent need for the Philippine government to adopt stronger measures in addressing the climate crisis
[3] Landmark inquiry finds legal grounds to hold climate-destroying corporations accountable.
