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The urgent call for climate justice

2025 is set to be the second or third warmest year on record. We have already seen record-breaking temperatures in many countries including the UK, and devastating climate-related events across the globe. These events have led to significant loss of life, damage to livelihoods and economic losses. Such impacts will worsen without significant action.

Wealthy governments committed to provide climate finance of $100 billion a year up to 2025 as part of a broader agreement to keep global temperature rises below 1.5°C and to support countries and communities adapting to climate change. 

However, as countries are revising their national climate plans, and costing climate action in their own countries, the finance gap runs into multiple billions of dollars for mitigation, adaptation and Loss and Damage. 

Read our latest report on climate finance and why it matters

What needs to happen at COP30?

At COP30, rich countries including the UK need to pledge their fair share of public climate finance to make the new climate finance goals a reality and ensure communities in lower-income countries can:

  • Build low carbon, resilient futures
  • Adapt to rapidly increasing climate impacts
  • Deal with and recover from climate damage
 
Last year, governments at COP29 agreed to provide $300 billion in climate finance from richer to poorer countries, with a recognition that overall climate finance needs to total $1.3 trillion a year by 2035. However, governments have yet to agree how much each rich country will provide as their fair share, or to commit to mainly using grants rather than relying on loans and hoping the private sector will fill the financing gaps.

See our previous reports

Putting our money where our mouth is

Why we need to shift towards public, grant-based climate finance to meet the needs of the world’s most vulnerable countries.

Baking Baku: The economic impact of climate change on Eastern Europe

A new report shows Azerbaijan, COP29 host, faces Eastern Europe’s highest economic risk from climate change.

Are communities ready for the Fund for responding to Loss and Damage (FRLD)?

The FRLD will be finalised at COP29 to quickly disburse small grants supporting frontline communities in climate recovery.
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