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COP29 will achieve carbon finance, not climate finance — Activist

Climate activist, Martins Ogunlade of Corporate Accountability and Public Participation (CAPPA) has said that with the overwhelming presence of fossil fuel lobbyists at the ongoing United Nations Climate talks in Baku, Azerbaijan, the outcome of negotiations will certainly be skewed in favour of oil companies and their governments.

Recall that in the first week of COP29, it was recorded that over 1,773 fossil fuel lobbyists had made it to the talks

Ogunlade said it was not easy getting accreditation for COP29. Although he eventually made it to COP29.

Ogunlade said, “My organisation was denied accreditation status but one wonders what type of status lobbyists have to have seamless access to the greatest climate change convergence in the world.”

He noted that the lobbyists “were here only for business interests, so they will definitely manipulate proceedings, distract policy makers and shift attention from real solutions.

ALSO READ: Africa MBPP raises alarm over carbon market talks at COP29

“They will promote the arguments that will advance their venture and planned expansion, weeding off the influence of government on oversight and the voices of the frontline communities that are adversely affected despite their insignificant contributions to global emission.”

Speaking on the possible outcome of COP29 which is scheduled to end on Friday, November 22, he said: “I am afraid, the story will be the same. COP29 will achieve carbon finance and not climate finance.

It will endorse corporatisation and further commodification of our natural resources. It will only promote extractivism.”

According to him, “Real solutions will mean three things: acknowledgement of historical liabilities, binding commitment to immediate liquidity (climate finance for adaptation, mitigation and resilience building) and phase out of fossil fuel.”

Climate activists have been staging protests at the venue of COP29 in Baku. Olamide said that CAPPA, along with other climate activists are “asking for climate justice and environmental accountability from corporations and countries from the Global North who are unarguably the ones responsible for the climate crises the world is suffering from.

“We frown at their attempts to disregard historical liabilities and their failures to commit to reparation and justice.

“We are loud in our rejection of NetZero and other carbon market initiatives because they have brought no benefits to Africans and Africa other than debts, destruction and devastations.”

 

NIGERIAN TRIBUNE

Paul Omorogbe

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