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COP29’s Climate Finance Deal: A Disastrous Outcome For Human Rights And Global Equity

by Lydia
Travel Industry

The pledge of $300 billion is a far cry from the $1.3 trillion annually that lower-income nations and climate justice activists had called for. This amount would have been necessary to adequately address the adaptation needs of vulnerable nations and cover the costs of loss and damage from climate change. The deal reached at COP29, however, is widely seen as a compromise that leaves those nations with little financial support while risking future debt burdens.

Ann Harrison, Amnesty International’s Climate Justice Advisor, criticized the agreement as a clear sign of the world’s wealthiest countries failing to live up to their responsibilities. “The world’s wealthiest countries have spent this year’s climate conference bullying lower-income countries into accepting a miserly finance agreement, which could saddle them with huge debts,” she stated. “While high-income nations and the Azerbaijan presidency pat themselves on the back, the truth is that this agreement represents a catastrophe for the human rights of people facing escalating climate impacts.”

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Instead of fostering a global transition to a just, low-carbon economy, COP29’s outcome appears to endorse business as usual, allowing multinational corporations, particularly fossil fuel companies, to continue exploiting natural resources at the expense of human lives. “This agreement will perpetuate the ongoing harms of colonialism and exacerbate the suffering caused by climate change. High-income countries are breaching their obligations under both the UN Framework Convention on Climate Change (UNFCCC) and the Paris Agreement,” Harrison said. “Rather than protecting the human rights of those most affected by climate change, the deal gives a green light to profit-driven activities that disregard the rights of countless people around the world.”

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The lack of an enforceable and ambitious commitment to phase out fossil fuels was another key shortcoming of COP29. Many countries, including those in the European Union and the United States, still prioritize economic interests over a coordinated global effort to reduce carbon emissions. This failure to commit to a fossil fuel phase-out, or to implement concrete policies to ensure a rapid transition, will inevitably hinder progress on climate action.

Amnesty International also highlighted serious concerns with the regulations surrounding carbon markets, which were adopted on the first day of the conference. These regulations, according to the organization, lack sufficient safeguards to protect human rights, particularly those of Indigenous communities who are disproportionately affected by carbon offset projects. The organization’s delegates noted that these measures had been fast-tracked through the conference without adequate scrutiny or debate.

Equally troubling were attempts to remove gender and intersectionality references from key draft decisions. These removals threaten to ignore the specific vulnerabilities faced by women and marginalized groups in climate policy discussions and decisions, undermining efforts to make climate action truly inclusive and equitable.

The COP29 negotiations were marred by a lack of transparency and participation, particularly from local voices in Azerbaijan. Human rights activists and independent journalists, especially from Azerbaijan itself, faced significant restrictions on their freedom of expression, with many fearing reprisals for speaking out. According to reports, the Azerbaijani government employed intense surveillance measures, creating an atmosphere of self-censorship among delegates. Some activists even reported being afraid to mention the host country’s name for fear of retribution.

The presence of over 1,700 fossil fuel lobbyists at COP29 highlighted the power imbalance within the negotiations, with corporate interests having far greater access to decision-makers than civil society representatives. Amnesty International itself faced barriers, as it was denied access to imprisoned activists and journalists in Azerbaijan and faced restrictions on peaceful protests within the conference’s “Blue Zone.”

While negotiators in Baku deliberated, the real-world consequences of climate change continued to unfold across the globe. In the Philippines, powerful tropical cyclones displaced thousands of people, while Ecuador faced unprecedented wildfires. Despite these growing crises, the pledges made at COP29 do little to alleviate the suffering caused by climate change. As Harrison pointed out, “In 2024, every continent has felt the brutal effects of climate change. While negotiators were quibbling in Baku, real people were being forced from their homes, facing devastating impacts to their livelihoods.”

Carine Thibaut, Director of Amnesty International’s Francophone section in Belgium, echoed the sentiment, emphasizing the need for a swift transition away from fossil fuels to address the deepening climate crisis. “We will not be able to address massive climate disruption, and its harm to human rights – including the right to life – without a full, fast, fair, and funded phase-out of fossil fuels,” Thibaut said. “This must be high on the agenda at COP30.”

The outcome of COP29 has left many climate justice activists disillusioned but resolute. “Despite everything, at the end of COP29 the mood among activists was defiant. The outcomes were crushing, but giving up is simply not an option,” said Harrison. As the impacts of climate change continue to intensify, so too must the global response. It is clear that the financial commitments made at COP29 are inadequate to meet the scale of the climate crisis and the needs of those most vulnerable to its impacts.

The fight for climate justice is far from over, and Amnesty International pledges to continue holding governments and corporations accountable for their role in perpetuating the climate crisis. “We will continue the fight and hold them to account,” Harrison concluded, underscoring the ongoing urgency of urgent and equitable climate action.

In summary, COP29’s outcome represents a missed opportunity for real climate action that respects human rights and addresses the growing inequality between high-income and low-income nations. If the international community fails to make meaningful commitments to climate finance, fossil fuel phase-out, and human rights protections, the world’s most vulnerable communities will bear the brunt of an increasingly dire climate future.

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