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Writer's pictureDebt for Climate

Statement of Debt for Climate regarding the COP29 outcome of the NCQG (New Collective Quantified Goal on Climate Finance)

If the Global North does not recognize the climate debt they owe, then the Global South shall not recognize the financial debt



The approval of a climate finance goal of $300 billion per year by 2035 is not just insufficient—it is an act of neocolonial violence. It legitimizes centuries of plunder, exploitation, and ecological destruction by the Global North while condemning the Global South to fight for survival with crumbs. This is not climate ambition; it is systemic injustice.


We reject the NCQG framework, which prioritizes private finance and profit over reparations and survival. Private finance and debt-based solutions are colonial weapons, extracting wealth and sovereignty from the Global South while shielding the Global North from accountability. Climate action cannot be a profit-making scheme—it is a matter of life or death.


This decision confirms what many have long known: the COP process is a tool of imperial control, where powerful nations and corporations impose their will under the guise of diplomacy. Justice will not be handed down by these institutions. It will rise from grassroots movements, uniting across borders to dismantle colonial systems and build a new world led by frontline communities.


To confront the climate crisis, we must confront the colonial economic order that sustains it. Illegitimate financial debts must be cancelled immediately as a first step toward dismantling the violent systems of extraction and oppression. Only by rejecting these debts and rebuilding global systems rooted in justice and life can we achieve true climate justice.


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