Big Shift Global

As we wrap up 2024, we're taking a moment to reflect on the past year and everything the coalition has achieved. ✨ The diversity of our coalition is one of its greatest strengths, bringing with it  breadth and depth. Here's a snapshot of our key achievements: 📊 Groundbreaking Reports: 👉🏼 Multilateral Development Banks’ Paris Alignment Methodologies by Urgewald & Recourse. https://lnkd.in/e_35nN54 👉🏼Fossils Implicated. How the Promotion of Fossil Energies Inhibits Africa's Development by Power Shift Africa. 👉🏼 End-game for Fossil Gas by Recourse. https://lnkd.in/dYZR6pYU Just a few of the many significant reports our members produced this year - demonstrating how the Multilateral Development Banks failure to respond to the climate crisis they continue to fuel. 📣 Advocacy in Action: 👉🏼 We organised an event for journalists in Pakistan spotlighting climate finance issues. 👉🏼 We were on the ground during the World Bank Spring and Annual Meetings raising our voices inside the halls and on the streets through marches and protests. 👉🏼 We organised side-events at the Spring and Autumn Annual World Banks meetings and at COP29 with staff from The World Bank and International Monetary Fund. These were a great opportunity to talk openly and reflect on public financed energy projects globally. 💻 Digital Impact: 👉🏼 It was the 80th anniversary of the Bretton Woods institutions but we weren't celebrating the 80 years of fossil fuel extraction and the unsustainable debt crisis developing countries are facing. Watch our explainer video here - https://lnkd.in/drddw_eT 👉🏼 We reacted to the main outcomes related the climate finance and the MDBs throughout the year at the Africa Development Bank AGM, World Bank Annuals, and at COP29 👉🏼 We spoke to experts from around the globe on just energy transition and the role of the MDBs, hear what they had to say here: https://lnkd.in/dRuAUinR Together, we're driving change in climate finance, pushing for a sustainable future. Thank you too all those who are part of the coalition, making this work possible 💚 Here's to another year of impactful collaboration! 💪🌿 #ClimateAction #SustainableFinance #2024Highlights #EndFossilFuels

#COP29 was referred to as the ‘Finance COP’ where nations were meant to come together and agree on a new climate finance goal.🏦 But, surprise, COP29 fell short as wealthy nations failed to deliver on climate finance.⁠ 📉 ⁠ Amongst other things, the climate finance outcome has laid out a much bigger role for public development banks (MDBs) in delivering climate finance. This is not good news. ❌ The recent outcome is troubling because it overlooks the possibility of directing climate finance through more democratic institutions already established within the UN system. Public banks (MDBs) are not the answer, as they continue to support the climate crisis by funding fossil fuel projects. Swipe through our carousel to learn what experts have to say about the COP29’s finance outcome. Debt Justice Norway, Power Shift Africa

Read Our #FeministReflection #COP29 #ClimateFinance Emilia Reyes writes "What is the value of the UNFCCC? Its capture by the interests of economic and fossil fuel elites is part of a larger effort by wealthy countries to dismantle multilateralism." https://lnkd.in/eN3H5wUz

Read MENA Fem Movement For Economic, Development And Ecological Justice's reflections on COP29. 👇🏼

The #COP29 climate finance outcome has laid out a much bigger role for #MDBs in the delivery of climate finance. In line with agreements also made at the G20 in Brazil this month, the amplified role for MDBs, provides rich countries with an opportunity to evade their responsibility to provide grants-based public finance for Global South countries. The outcome raises concern among many civil society organisations for the increased role given to the MDBs seemingly ignoring the option for climate finance to flow via more democratic institutions that are already part of the UN system. The MDBs are presented as a key part of the solution despite these institutions still funding the problems: fossil fuels and a record-breaking debt crisis. Full civil society reaction here: https://lnkd.in/eeU6jV6P

News from #COP29: today's ECO calls out why the MDBs aren’t the solution for climate finance. “Throughout the NCQG text rich countries, with the aid of their beautiful assistant the multilateral development banks, are using smoke and mirrors to create an illusion that funds will flow from north to south.” As debt reaches record-breaking levels the MDBs cannot be at the forefront of climate finance at COP29 when the majority of their finance is supplied through loans. Just look at their history, last year only 4% of their ‘climate finance’ was in the form of grants. Don’t be fooled the MDBs represent enhancing private finance in the NCQG, which civil society and developing countries have opposed from the beginning of #COP29. Read the full article here: https://lnkd.in/dzNeZvF5

Discussions at #COP29 on the new climate finance goal are signalling a substantial role for Multilateral Development Banks (MDBs). #ClimateJustice requires non-debt creating #PublicFinance. The MDBs only provide 4% of their finance in grants.📉 It is the responsibility of rich countries to deliver climate finance - they can't hide behind MDBs!😫 MDBs are not fully Paris-aligned, still funding fossils and in many cases putting profit over people.🤦🏾♀️ #COP29Baku #COP #StopFundingFossilFuels #PayUp Picture from Climate Action Network International's press release this mornign at #COP29.

What is a #JustEnergyTransition’?⚡️ We’re asking people coming by our booth at #COP29. 📌 Booth 19 in Zone B If you’re at #COP29Baku, come by and give us your answer! And learn about countries' progress to 100% renewables. #COP #ClimateJustice #COPBaku

Africa doesn’t need fossil fuels. ❌👇🏼 👉🏼 “Working on a just transition is fundamentally about ensuring there is justice. We are actually dealing with power. If it’s not embedded among the people, then all the work will not materialise.” Tasneem Essop, Climate Action Network International. 👉🏼 "We cannot have a just transition under a colonial system. We can’t decarbonise a system that hasn’t been structurally and economically decolonised.' Fadhel Kaboub فاضل قابوب, Denison University. 👉🏼 "The movement for just transition belongs to the people on the African continent. This is a people conversation we need to build movements centred around people. We need to build conversations around just transition, clean cooking, critical minerals with the actual people who are being impacted.' Karabo Mokgonyana (She/Her), Power Shift Africa. 👉🏼 "Just transition is not just about getting to renewables but to good renewables. If we only talk about RE in a quantified way and mantra of privatisation to decarbonise it’s not going work.' Niclas Hällström - Director, What Next? Culture At today’s #COP29 side-event on #Africa's just energy transition panel members presented the case for 100% renewable energy for Africa. Just transition must be designed, developed and owned by African people. There’s is no excuse not to #StopFundingFossils. #RenewablesNow #JustTransition #ClimateJustice #JustEnergyTransition

On Saturday the 16th of November at #COP29Baku We facilitated a side event discussing civil society’s expectations and concerns surrounding the Multilateral Development Banks’ role in #climatefinance. We heard from Sandra Guzmán Luna from GFLAC Grupo de Financiamiento Climático para Latinoamérica y el Caribe on the role of the MDBs as part of the NCQG and the conditions needed for them to play a relevant role. “COP29 is particularly important as we have to decide on the specifics of the NCQG. It's not that we have a lack of public money. For instance, this year we have spent $1.2 trillions on military expenditure. So yes it is possible to mobilise these resources” Anja Gebel from Germanwatch e.V. shared how the MDBs should contribute to implementing the COP28 energy package in terms of finance, policy support and institutional role, including being a leader in Paris Alignment. “Will need large investments, and without social justice framing the energy transition will fail. Unfortunately, it is unclear how the MDBs’ #JustTransition principles are being operationalised.” Alison Doig from Recourse shared three key criteria for the approach the MDB's should take to financing the energy transition, 1. Finance a transition towards a new 100% renewable future 2. Ensure a democratic energy system for all 3. Put people and nature at the heart of the energy transition Karabo Mokgonyana from Power Shift Africa shared how, “The NCQG represents a historic opportunity to rewrite Africa’s energy future. MDBs can actualise some of the best practices in community-based renewable energy projects & expand them in the African continent.” Gloria Kafui Kuzo from Strategic Youth Network for Development : SYND GHANA gave examples from the ground asking, “What is the use of electricity access if it is not affordable for the people? We should have an implementation of Renewable Energy, but it should be affordable, accessible and have the community people at heart.” We had a productive conversation with Avinash Persaud from the Inter-American Development Bank with points of strong agreement. Avinash shared, “Its very important that we have an ambitious NCQG so countries can have ambitious voluntary NDCs... The #LossAndDamage is being funded today by the poorest people, by their lost livelihoods, lost homes. That’s where we need the grants.” Countries ability to cope with the climate crisis is dependent on an ambitious NCQG that meets the needs of the people. Ultimately this responsibility sits with rich countries. MDBs role in delivering climate finance must be fossil-free, transparent, and not contributing to the debt crisis. #NoGoalNoWorld #GasIsNotGreen #JustCleanEnergy #COP29 #JustTransition #NCQG