Financing is at the forefront of COP29 in Baku, where many are hoping to reach an agreement that unlocks trillions of dollars to help less privileged nations cope with the impacts of climate change.
According to the UN, rising temperatures and sea levels, varying precipitation and more extreme weather patterns pose an increasing threat to the African continent.
African officials attending the summit are calling on wealthy nations, who pollute the most, to pay up for the environmental harm they have caused.
”He who pollutes should meet the cost of clean up over the environment, should meet the cost of mitigation it should meet the cost of adaptation in that proportion, because to pollute, people have made the money to pollute,” says Barirega Akankwasah, executive director of the Uganda National Environment Management Authority.
”You pollute through production and so there is a benefit to you who has polluted in it principles of environmental management, the costing of good design. The services must integrate the full cost of production, including the cost to the environment,” he added.
Akankwasah is hoping that any agreement made at this year’s COP will clearly outline finance plans for a damage fund, stating that, the deal should ”have fully operational loss and damage fund with clear criteria on how much and who contributes and the criteria for access and disbursement of these funds.”
Protesters gathered in Baku on Friday also demanding that polluting nations pay their fair share to help less privileged nations adapt to climate change. They also called for the phasing out of fossil fuels.
More than 1,700 coal, oil and gas lobbyists have been given access to COP29.
