As we hit the final stretch at #COP29 🌍, it's vital we secure a new finance goal 💰 to support developing countries and tackle mitigation, adaptation, and loss & damage. Real action is needed—let's move beyond fossil fuels 🚫⛽. Thank you Susana Muhamad for your inspiring words.

#NCQG text dismantles the Paris Agreement, dragging us back to 2009 ambitions and ignoring human rights, gender equality, & frontline communities, offering vague promises instead of delivering on climate finance. FEMINISTS HOLD THE LINE! Our reaction: bit.ly/NCQGalarm

We came to #COP29 ready to negotiate in good faith for a strong climate finance goal 🌍. The proposed $250B from developed countries? Unacceptable! 💸 Stop playing geopolitical games with our future and get serious! 🔥

NCQG Comment 1: 250 as the NCQG and the current para 8.c) would mean almost no increase in developed countries' provision of public finance

📢As #COP29 goes into overtime and we await news on the New Collective Quantified Goal on #ClimateFinance (#NCQG)💰 here is our message to rich countries: ✨Its time for a quantum leap! US$ 250 billion wont cut it, developing countries need at least US$ 1.3 trillion a year!

BREAKING: LDCs and AOSIS suspend #COP29 negotiations on #NCQG #ClimateFinance goal. CAN members @Rebecca_Thissen @BrandoncWu and @MohAdow speak to an intensely interested media scrum. No deal is better than a bad deal. #PayUp

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Rebecca Thissen Brandon Wu Mohamed Adow @MohAdow explaining why LDCs and AOSIS walked out: "Text on the table is not good enough to discuss an #NCQG #ClimateFinance goal." #COP29 #PayUp

1/6.⚠️At #COP29, the LDC Chair and AOSIS have temporarily walked out of negations on the New Collective Quantified Goal on #ClimateFinance (#NCQG) having rejected the current text for its lack of ambition and its failure to include key demands from the groups.🧵

2/6. Developed countries have put only US$ 250 billion a year on the table and are trying to side step their obligations under Article 9.1 of the #ParisAgreement to “provide” #ClimateFinance.

3/6. Throughout discussions on the #NCQG at #COP29 LDC Chair and AOSIS have made their demands clear including a goal of US$ 1.3 trillion a year delivered as grants and highly concessional finance and minimum allocation floors for the two groups.

4/6. Previously they indicated that these minimum allocations should be US$ 220 billion a year for the LDC Chair and US$ 39 billion a year for AOSIS in order to operationalise the special needs and circumstances of SIDS and LDCs recognised under the #ParisAgreement.

5/6. Other key demands included a clear definition of what is ✅ an is not 🚫 #ClimateFinance and failing that a negative saying what should not be counted. E.g. export credits, market rate loans and finance for fossil fuel expansion.

6/6. The two groups have indicated that they can not accept the new text and have not been properly included in the negotiation process at #COP29 and therefore have temporarily walked out but want to continue to push for a fair deal.

"Affirms the aim of the objective of the hope of the acceleration of the destination of the achievement of the intention of the process of the design of the enabling of the implementation of the roadmap of the goal of the sorry that's all you're getting suckers" #COP29

Huddling 30 hours after the scheduled closing is not a good sign. Also, it is not equitable because for one many developing countries delegations have flown home by now. And to think they all had 3 years to work on this new finance goal. #NegotiationsByExhaustion

updated (final?) draft #COP29 outcomes now shared with delegations... here is updated version of draft decision on #ClimateFinance #NCQG compared to that rejected today by most vulnerable countries' delegates 📄doc: unfccc.int/documents/6436… 🔍track changes: drive.google.com/file/d/1a7lust…

Not only was this a hugely weak COP29 deal, it was pushed through over the objections of a number of countries. Azerbaijan’s authoritarian regime may be used bulldozing opposition against its own people, but the UN process cannot be bullied in the same way. This is yet more

My Reaction to the COP29 Outcome “At COP29, developed nations once again coerced developing countries into accepting a financial deal woefully inadequate to address the gravity of our global climate crisis. The deal fails to provide the critical support required for developing

Climate Action Network wholeheartedly rejects the outcome of #COP29. climatenetwork.org/2024/11/23/cop…