At a time when public finance is desperately needed to address the intensification of the climate crises due to Global North’s historical and continuing occupation of the world’s commons and failure to execute ambitious climate actions and deliver on climate finance obligations, the Global North continues to fraud the Global South of the climate debt owed, this time co-opting the Fourth Financing for Development (FfD4) process after Baku last year, to further realise their ‘Great Escape’ from provision of new and additional climate finance to developing countries.   

The refusal to respond to the clamor for the cancellation of public debts in the Global South and the attempt to bury climate finance in a single paragraph alongside biodiversity and ecosystems in the zero draft which was opposed by developing countries, is a calculated move by Global North governments to weaken respective mandates and cover up double and multiple counting of the same funds. 

Additionally, their failure to acknowledge “new and additional” obligations and push for insertion of deceptive language of “all sources” along with twisting voluntary South-South cooperation marks the next phase of the Global North’s dereliction of legal obligations. All this while they continue pouring trillions into fossil fuels, militarisation, and corporate bailouts—the very systems driving planetary destruction.

The FfD4 Conference (June 30th-July 3rd) taking place at the heels of June Climate Meetings (SB62) is a crucial moment for Global South governments and movements to hold the leaders of the richest, industrialised nations accountable and stop their schemes to push debt traps, market-based mechanisms and recycled loans and efforts to erase their historical responsibility and cover up for their failures.

The Global Campaign to Demand Climate Justice (DCJ) along with its members rejects the attempts by the Global North to rob the communities in the Global South—least responsible for the climate crises—and stands with the G77 that is united in their fight to defend the integrity of climate finance bound by legal obligations of the UNFCCC and its Paris Agreement. We also stand against the decision to conduct the next phase of negotiations behind closed doors with no civil society observers being allowed and demand transparency and accountability from the United Nations. 

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G7 LEADERS, PAY UP & PROVIDE CLIMATE FINANCE NOW! 

#TrillionsNotMillions #PayUp #ClimateJusticeNow