The 2024 United Nations Climate Change Conference has been called the 'climate finance' conference, with participants expected to establish a new annual target for providing funds for the Global South to confront the climate crisis—but campaigners on Monday expressed concern that on the first day of the summit, there are already signs leaders will push for 'false solutions' that only perpetuate planetary heating.
Lise Masson, climate justice and energy advocacy officer at Friends of the Earth , emphasized that 'carbon markets are not climate finance, and we cannot accept these neocolonial schemes to be propped up as a success of COP29.' 'Decisions at COP29 threaten to open the floodgates for a global carbon market that would have devastating impacts on communities in the Global South, on Indigenous peoples, and on small peasant farmers first and foremost,' said Masson.