As we head towards COP 29, the issues of climate finance and a fossil fuel phaseout towards a just energy transition are ever more critical for climate action. The coming months offer crucial opportunities for a radical transformation in our social, economic, and political systems.

The Global Fight to End Fossil Fuels and the #PayUp for Climate Finance campaign joined forces from 13-20 September to organise the Global Week of Action for Climate Finance and a Fossil-Free Future (click here to learn more about the actions). The week started with the #EndFossilFuels Action on 13 September and concluded with the #PayUp for Climate Finance Action on 20 September (click here to see the comms pack).

CSOs raised their voices to demand global north governments to stop making empty promises, cease pandering to corporations to perpetuate fossil fuels, and take on their full fair share of domestic and international actions to ensure a fast, fair, feminist and funded fossil fuel phase-out. 

Multilateral Development Banks and International Finance Institutions 

On 15 September, online messages focussed on MDBs and IFIs, and specifically on the World Bank and IMF. As a whole, MDBs are not fit for purpose to be a part of the climate finance solution, due to their continued funding of fossil fuels as well as their role in sustaining a cycle of debt. An online social media campaign also highlighted the false solutions which prioritise private investors. The private sector will not deliver the amount or quality of climate finance that is needed. 

Tax Justice Day

At a moment when climate finance is urgent, why are we losing billions a year in tax revenues? How could taxing the elites and polluters allow countries to raise the public funds necessary for climate justice - particularly for global north countries who must deliver on their climate finance obligations? What is the role of polluting industries in tax justice - are polluters paying? The panelists of the webinar "The interconnectedness of climate and tax justice", which took place on 16 September during the Tax Justice Day, tried to address the questions above. Watch the video recording of the webinar:

Debt Justice Day

On 18 September, the Debt and Climate Working Group organised the webinar "Why does debt matter for climate justice?" to explore the vital connections between debt and climate justice. As the debt crisis escalates and rich countries continue to refuse to pay their climate debt, it was more important than ever to engage in this discussion. Topics that have been covered during the webinar: why this issue is so urgent right now, what’s happening at the intersection of the debt and climate crises this year, and how we can collectively work toward debt and climate justice — especially as the post-2025 climate finance negotiations are finalised this year. Watch the video recording of the webinar:

With the support of several civil society organisations, the Debt and Climate Working Group compiled a collection of various resources dedicated to the topic of debt and climate. As a living document, this repository was created for activists, civil society representatives, academics, policymakers, and anyone interested in learning more about the connection between debt and climate justice. The document primarily focuses on written outputs (i.e. reports, blogs, policy papers), campaign materials, as well as videos and webinars. 

Download the list of resources on debt and climate

Useful links: 

•