Ministers must make polluters pay in COP29 climate finance package

One month ahead of the annual UN climate talks, COP29, in Azerbaijan, government ministers are being urged to ensure the principle of making fossil fuel polluters pay is embedded in a new climate finance package.

Greenpeace International has published an open letter to government ministers in the lead-up to a high-level ministerial dialogue on October 9 in Baku, Azerbaijan. The meeting is focused on progressing talks on the New Collective Quantified Goal (NCQG) on Climate Finance.

In the open letter, Jasper Inventor, Greenpeace International’s Head of Delegation for COP29, said:

“In the face of blockbuster profits, rising emissions and vast human suffering linked to climate induced extreme weather, the moral, economic and environmental case for making the fossil fuel industry and other high emitting sectors pay has never been stronger.”

Agreement on the NCQG at COP29 is critical for unlocking essential public funds needed by developing countries for climate mitigation, adaptation and action to address loss and damage. 

Inventor added:

“Yet in UN negotiations on the new global finance goal to be agreed this year at COP29, the responsibility of big polluters to pay for the harm and destruction they have caused is escaping the spotlight. The fossil fuel industry is the climate wrecking elephant that’s not in the room.

“We call on you to ensure the new finance goal is a turning point for holding the fossil fuel industry and other big polluters to account – not a get out of jail free card for those most guilty of climate destruction.”

ENDS