ASHENEWS reports that ActionAid International has said that the ongoing Climate Change Conference (COP29) taking place in Baku, Azerbaijan must unlock the finances needed to fund energy transition efforts, especially by poorer countries.
According to ActionAid, the world was still dragging its feet on fully committing to funding energy transition efforts, particularly from fossil fuel energy to cleaner alternatives.
The Global Lead on Climate Justice at ActionAid International, Teresa Anderson noted that agreeing an ambitious new climate finance goal which will drive these efforts will be far, far cheaper than the escalating costs of runaway climate breakdown which may occur later.
“To step up the energy transition, we need COP29 to unlock the funds. An ambitious climate finance goal worth trillions of dollars each year will finally help the developing countries already drowning in debt from climate impacts, to afford to scale up renewable energy and leapfrog the fossil fuel era.
“It’s important that the new goal on climate finance focuses on grants to governments rather than loans and private finance. Ensuring a just transition in energy isn’t just about replacing technology and can’t just be left up to the private sector.
“A responsible energy transition must actively involve communities and invest in infrastructure, training, social protections, and sustainable livelihoods.”
Similarly, the Climate Justice Advisor for Liberia and Nigeria at ActionAid International, Friday Ogezi highlighted such needs by citing the situation in the Niger Delta.
“Every day more than 2.5 billion cubic feet of natural gas are flared in the Niger Delta releasing pollutants that have poisoned water sources, destroyed farmland, and sickened people. The once vibrant community is now a shadow of its former self.
“At this COP it is important to ensure that the needs of vulnerable communities are prioritised in energy transition conversations and decisions.
“The oil companies have stolen our future. We demand a just transition backed by adequate finance in the form of grants. The time for empty promises is over. It’s time for action.”
