#UNTaxConvention #COP29 #FfD4 #EurodadIC25

#COP29 #PayUpforClimateFinance #Aid #FfD4 #EurodadIC25

The conclusion of the ongoing negotiations for the post-2025 climate goal is top of the agenda at COP29 this week in Baku, Azerbaijan. Civil society is calling on global north leaders to deliver a binding commitment, strive to re-establish trust, and recognise the owed climate debt to the global south.

Debt swaps for climate and conservation goals have experienced a resurgence in recent years. As COP29 negotiations kick off, they are presented as a dual solution for debt and climate issues, however they fall short in practice and pose risks that threaten to harm global south countries and communities. This briefing explains why instead of debt swaps, we need urgent debt cancellation and grant-based climate finance.

Last week, civil society organisations mobilised online and offline during the Global Week of Action for Climate Finance and a Fossil-Free Future, calling on global north governments to meet their climate finance obligations in full. 

While hundreds of billions of tax revenues are lost every year due to tax dodging, the need for public climate finance becomes ever more urgent. A global tax deal can make polluters pay their fair share of taxes and for compensating the damage they cause.

#ClimateFinance #Debt #Tax #GlobalGateway #NCQG

The 11th Technical Expert Dialogue of the New Collective Quantified Goal (NCQG) is an important opportunity to agree on the qualitative elements of the post-2025 climate goal, including improving the quality of international climate finance flows to benefit of low and middle-income countries that already face disproportionate impacts of the climate and debt crisis.

Download the full submission

#ODA #Aid #ClimateJustice #DebtJustice