Securing better climate finances for the Global South has emerged as the pre-eminent goal for CoP29. However, the Global South and the Global North should not come to the table as adversaries. The monetary system encourages profitability, so the first way forward could be for the Global South countries to facilitate higher returns. Second, using climate finance not as loans or grants but as a backstop for the public and large private lenders may be explored. A little more generosity from the Global South may, ironically, transform COP29 into a resounding success.

Source: The North Africa Journal November 08, 2024 03:31 UTC