Media CenterClimate Finance Agreement from COP29 "too low and slow"

FOR IMMEDIATE RELEASE

CONTACT:
Brittany Wichtendahl
Catholic Relief Services
[email protected]
757-748-5003

BALTIMORE, MARYLAND, Dec. 4, 2024 – Catholic Relief Services (CRS), the international humanitarian agency of the United States Conference of Catholic Bishops, issued the following statement after the conclusion of COP29 in Baku, Azerbaijan:

On Sunday, Dec. 3, developed nations agreed to raised $300 billion per year by 2035 for developing countries impacted by climate change. While this is a significant increase, it is still far too low and too slow.

Economists from various sectors have stated that developing nations need climate finance of at least $1.3 trillion per year through 2035. The gap between the agreement and what is actually needed puts millions of lives at risk. Countries that have suffered from the impact of climate change, such as the Philippines, with six back-to-back devastating typhoons, need robust and immediate support from wealthier, developed nations.

Climate change is enhancing conditions conducive to more intense weather, which many poor countries are not prepared to handle because they lack the resources. Climate finance will help these counties adapt to and prepare for flooding, typhoons, and droughts, while transitioning to clean energy.

Pope Francis emphasized at the start of COP29 that this meeting was a chance for the international community to prioritize the good of humanity and our common home, which God has entrusted to out care and responsibility. While this new agreement does more than double the previous commitment of $100 billion per year, it does not fully live up to the Holy Father’s call to action.

Global leaders must stand with those less fortunate who are burdened the most by climate change and are unable to adapt without support.

The Baku to Belém roadmap to #1.3 trillion is a first step and could provide crucial details on how developed countries can provide the necessary funding. However, this roadmap must be prioritized, with those countries who are contributing the most to climate change standing up and taking responsibility.

The world cannot afford to wait. Communities from Spain to Indonesia are literally washing away. We cannot allow climate finance to simmer low and slow. It is time to turn the heat up and increase climate funding to prevent further devastation.

 ###

Catholic Relief Services is the official international humanitarian agency of the Catholic community in the United States. The agency alleviates suffering and provides assistance to people in need in more than 100 countries, without regard to race, religion or nationality. CRS’ relief and development work is accomplished through programs of emergency response, HIV, health, agriculture, education, microfinance and peacebuilding. For more information, visit www.crs.org or www.crsespanol.org and follow Catholic Relief Services on social media in English at Facebook, Twitter, Instagram and YouTube; and in Spanish at: Facebook, Twitter and Instagram.

-----------------------------------------------------------------------------------------------------------------------------------------

Online Tools:
CRS Online Press Room: www.crs.org/press-room