Responding to the New Collective Quantified Goal draft text, Shruti Agarwal, Senior Adviser on Climate Change and Sustainable Economies at Save the Children said:

"We are outraged by the extremely low target of $250 billion per year by 2035 in the latest draft of the COP29 finance agreement. It fails to reflect any ambition or take into account the huge increase in the costs of climate action since the $100 billion goal was agreed more than a decade ago, in 2009 . Let's be clear - these figures will not come close to delivering climate justice for children and their families on the frontlines of the climate crisis.   

"So much has changed in 15 years, with an alarming increase in the frequency and intensity of climate events. We’ve brought 15 year olds to Baku for COP29 who have spoken powerfully about how extreme weather is already pushing them out of school, how children in their local area have been killed in heavy flooding.

“This finance agreement must keep pace. Let's be clear - these figures will not come close to delivering justice for children and their families on the frontlines of the climate crisis.   

"We strongly urge the UK to show leadership in pushing for an ambitious and fair agreement that meets the needs of children and young people in lower-income countries – and one that doesn’t trap them into cycles of perpetual debt for decades to come.”

ENDS