A huge “climate debt” is owed by the global north to the global south, according to campaigners at Cop29, writes Damian Carrington, environment editor.
“We are asking for the down payment of a very large debt – a down payment of $5tn [a year],” said Tasneem Essop, executive director of Climate Action Network, global alliance of more than 1900 civil society organisations in over 130 countries.
The argument is simple: rich nations prospered by burning fossil fuels and now need to fund poorer nations to avoid the same path, and cope with the severe heatwaves, floods and storms fuelled by global heating and already here.
Is China part of the global south? India?
They are both building out a massive amount of coal powered plants and will continue doing so because it suits their interests. You think giving India and China $1 trillion a year each will change this dynamic?
I can understand specific bi-lateral initiates (or even structured multi-lateral ones). But the whole “global south” discussion is extremely simplistic.