Bonn is heading for a confusing combination of good, bad and ugly outcomes

As Week One of UN climate negotiations in Bonn comes to an end, ActionAid looks ahead to Week Two, and the key issues of just transition and finance for COP30.

Teresa Anderson, Global lead on climate justice says:

“Bonn climate talks are shaping up to deliver a confusing combination of good, bad and ugly outcomes. The good news is that governments are starting to get excited about Just Transition. Agreeing a Just Transition mechanism at COP30 would send a powerful message to the world that workers and communities are at the heart of climate action. Instead of being in conflict with people’s daily needs, Just Transition means that climate action can deliver job security, affordable food and energy access. 

“But with rich countries’ refusal to provide real grant-based money for those on the front lines of the climate crisis, the Global South has been left holding the cleanup bill for the Global North’s climate-wrecking party.

“Even worse, under the Baku to Belém Roadmap to £1.3 trillion, rich countries are opportunistically pushing their private finance instruments to supposedly ‘fill the gap’ in funding. But rather than being a climate solution, the loans, corporate investments and carbon offset schemes they are promoting are a strategic way for the Global North to squeeze ever more profits and control from the Global South. Private finance is a Trojan Horse that will likely push many climate-impacted communities deeper into poverty.”