COP29 deal is a “global Ponzi scheme”: Oxfam

Publicado: 23rd Noviembre 2024


Responding to the COP29 climate finance agreement, in which rich countries agree to mobilize $300 billion a year to help Global South countries cope with warming temperatures and switch to renewable energy, Oxfam International’s Climate Change Policy Lead, Nafkote Dabi, said: 

“The terrible verdict from the Baku climate talks shows that rich countries view the Global South as ultimately expendable, like pawns on a chessboard. The $300 billion so-called ‘deal’ that poorer countries have been bullied into accepting is unserious and dangerous —a soulless triumph for the rich, but a genuine disaster for our planet and communities who are being flooded, starved, and displaced today by climate breakdown. And as for promises of future funding? They’re just as hollow as the deal itself. 

“The money on the table is not only a pittance in comparison to what’s really needed –it’s not even real “money”, by and large. Rather, it’s a motley mix of loans and privatized investment –a global Ponzi scheme that the private equity vultures and public relations people will now exploit. The destruction of our planet is avoidable, but not with this shabby and dishonorable deal. The richest polluters need to wise up —and pay up.” 

Información de contacto

Karelia Pallan in Baku, Azerbaijan | karelia.pallan@oxfam.org | +1 202 329 8283 
Julia Manresa in Brussels, Belgium | julia.manresa@oxfam.org | +32 473 87 44 26 and +32 479 56 18 12 (non-working hours)  
Annie Thériault in Lima, Peru | annie.theriault@oxfam.org | +51 936 307 990  
Jeshua Hope in Suva, Fiji | jhope@oxfampacific.org | +679 7500889 

For updates, please follow @NewsFromOxfam 

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