No need to beg those who caused global warming – Shifeta

Ministry of environment, forestry and tourism Pohamba Shifeta says there is no need for developing countries to beg for financing to fight climate change from those who caused global warming.

Shifeta, speaking during the Conference of the Parties (COP29) in Baku, Azerbaijan, yesterday, said the countries that caused global warming are now refusing to provide funding to address the climate challenges they have caused.

“We came here to Baku with the understanding that COP29 would be a climate finance COP.

However, it is quite astonishing and very disappointing to hear that those who caused global warming are refusing to provide adequate and predictable finance to developing countries,” said Shifeta.

He said developing nations are not begging for handouts, but rather demanding that developed countries honour their commitments under the United Nations Framework Convention on Climate Change and the Paris Agreement.

“We cannot continue to repeat the call for a US$100 billion per annum new collective quantified goal year after year.

The developed world must be honest to this process,” said Shifeta.

He added that US$100 billion is not enough to save the planet.

“I unreservedly agree with some previous speakers here calling for climate finance, 100 billion US dollar per annum is just 0.1% of the global gross domestic product. Very little to save planet Earth indeed,” said Shifeta.

He said climate financing should be done on a polluter-pay principle and should also take into account historical responsibilities for emissions.

“We maintain a narrative that there should be an allocative balance on climate finance between mitigation and adaptation. And that significant financial resources shall be granted as opposed to concessional climate finance,” said Shifeta.

United Nations climate change executive secretary Simon Stiell said the countries that have convened at COP29 should not leave without successful finance goals.

“G20 leaders have sent a clear message to their negotiators at COP29: do not leave Baku without a successful new finance goal. This is in every country’s clear interests,” he said.

Stiell said leaders of the world’s largest economies are committed to driving financial reforms forward to place strong climate action within all countries’ reach.

“This is an essential signal in a world plagued by debt crises and spiralling climate impacts, wrecking lives, slamming supply chains and fanning inflation in every economy,” said Stiell.