Big Shift Global

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

See you in one hour at our side-event at #COP29! With GFLAC Grupo de Financiamiento Climático para Latinoamérica y el Caribe, Germanwatch e.V., Recourse, Strategic Youth Network for Development : SYND GHANA and Inter-American Development Bank

Half of all Multilateral Development Banks’ climate finance goes to Europe.🤯 Just 4% of funding is grants - that’s 96% in loans. At #COP29, The World Bank President Ajay Banga announced a big commitment to increase climate finance available through MDBs for low- and middle-income countries to $120 billion, most of it through leveraging the private sector. BUT before they scale-up the quantity, the banks need to reassess the quality. There are critical questions about what the MDBs consider to be climate finance. MDBs can’t be climate bankers if they are fossil bankers Read more in this article by Recourse’s Petra Kjell Wright https://lnkd.in/dJx-JCyZ #StopFundingFossils #COP29 #PayUp #COPBaku

In a powerful joint action by Big Shift Global, Don't Gas Asia, and Don't Gas Africa, we delivered a unified message to world leaders: Gas is NOT a transition fuel! Together, we stand firm—a united people will never be defeated! Here a few quotes from the speakers during the action: Aish Visvanathan: "The expansion of gas in the Global South is not a bridge—it’s a barrier. It’s dirty, deadly, and costly. And it’s delaying the real transition our people need: a transition to renewable energy that is rapid, just and equitable." Bhekumuzi Dean Bhebhe: "We have come to the conference of the polluters to say: Gas is not a gift from God, because a gift from god cannot mean flooding and drought and high temperatures and land grabbing and human rights violations." Gloria Kafui Kuzo: "Don't Gas Africa. Don’t gas communities. No false solutions for clean cooking." Muhammad Saeed Baloch: "The rich countries must listen to the communities on the ground because there is NO PLANET B." Omar Elmawi Phumla Duma Karabo Mokgonyana (She/Her)