Sat Nov 23 03:20:11 UTC 2024: ## Global South Rejects “Insulting” $250 Billion Climate Finance Offer at UN Summit

**Baku, Azerbaijan –** Civil society groups staged a silent protest at the UN climate summit in Baku, vehemently rejecting a proposed $250 billion annual climate finance package from developed nations as woefully inadequate. The offer, intended to aid developing countries in mitigating climate change and adapting to its effects, falls far short of the demanded $1.3 trillion annually.

The protest, featuring participants with arms crossed in defiance, culminated in a letter to the G77 and China bloc urging a rejection of the deal. The Climate Action Network (CAN), representing over 1,900 organizations, described the proposal as “insulting and unjust,” arguing that “no deal is better than a bad deal.”

Several prominent figures echoed this sentiment. Shailendra Yashwant of CAN South Asia called the offer an “insult,” while Harjeet Singh of the Fossil Fuel Non-Proliferation Treaty Initiative labeled it a “disgrace,” highlighting the vast discrepancy between the offered sum and the trillions needed for effective climate action. Greta Thunberg also condemned the proposal as a “complete disaster” and a “death sentence” for vulnerable populations.

Negotiations, initially scheduled to conclude on November 22nd, extended into overtime as developed nations only presented their concrete financial proposal in the final hours. Developing nations, having requested at least $1.3 trillion annually starting in 2025 – a significant increase from the $100 billion pledge in 2009 – expressed their deep dissatisfaction with the proposed amount. They emphasized the need for substantial public funding from developed nations. The summit concluded with the issue of adequate climate financing remaining unresolved.

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