The most vulnerable countries, already bearing the brunt of increasingly severe climate impacts were forced to accept a token financial pledge to prevent the collapse of negotiations – a stark reminder of the persistent imbalance in global climate justice.

Billed as the “Finance COP”, the UN climate talks fell short of expectations and needs.

Developed countries committed just ‘at least $300 billion per year’ from a variety of sources – including public and private – a figure that risks deepening the debt burden for vulnerable nations who are already paying the price of the climate crisis.

350.org Pacific Managing Director and Pacific Climate Warrior, Joseph Sikulu says high-income countries, responsible for the bulk of historical emissions, owe trillions to nations shouldering the costs.

Sikulu says the UN climate talks are not a perfect negotiating space, but they are critical for the global community to address the climate crisis.

He stresses that it is crucial that they defend this process, not just with words, but with actions.

Sikulu says at COP29, rich countries have failed to pay up for what they’ve broken and to support nations facing the harshest impacts.

He highlights that now they turn their focus to Belem, for COP30 in the Brazilian Amazon.

The Pacific Climate Warrior says they must hold steadfast in their convictions and work harder than they ever have.

“We will be gathering alongside a never-before-seen showing of Indigenous and civil society partners, and we will turn this around. We know the money exists. We are running out of time, but rich countries are running out of excuses.”

Sikulu says that while COP29 didn’t deliver the ambition sought, it at least concluded with countries recognizing this goal as a starting point that needs to be revised in 2030 with a clear roadmap to mobilize more money.

Now, he states that the Brazilian COP30 Presidency must take on the crucial task of leading a credible process to scale up finance and ensure its quality and impact.