A coalition of environmental ministries from four African countries (the Democratic Republic of Congo, Nigeria, Uganda, and Equatorial Guinea), together with over 150 NGOs, has called for fair, sustainable climate finance initiatives to be introduced at COP29.
In a declaration that will be sent to the COP29 Presidency, the OECD, and China on 19 November, themed ‘Food, Water and Agriculture Day’ at COP29, the group called for innovative financing models for the agri-food sector be used to fund reparations for climate-induced losses.
They also call for the implementation of greenhouse gas emission pricing within global agri-food systems, suggesting that at least 20% of revenues from these pricing mechanisms be allocated to the Loss and Damage Fund, which was established at COP28.
Vulnerable countries
“It is vital that COP29 will ensure that such innovative finance mechanisms are created and used to pay reparations to the most vulnerable countries on our planet,” commented Willem Branten, public affairs, TAPP Coalition.
The coalition’s declaration also addresses the significant environmental costs of the global food system, which generates 33% of global emissions, with 14.5% to 20% stemming from livestock production alone.
It notes that overconsumption of meat in high-income countries is a primary driver of emissions, deforestation, and biodiversity loss, as livestock herds are expected to grow by 46% by 2050, endangering the global net-zero target set for that same year.
Citing recent IPCC and FAO findings, the coalition advocates for a reduction in animal protein consumption in high-income nations.
Animal protein overconsumption
“Limiting the detrimental effects animal protein overconsumption has on the climate is crucial in averting a climate crisis,” Branten added.
In closing, the coalition stresses that without decisive steps to address the environmental impact of meat production, future climate conferences risk falling short in the fight against climate change.
By promoting sustainable diets and an innovative finance mechanism for the Loss and Damage Fund, both COP29 and future climate conferences can achieve a ‘more just and climate-resilient future’, they said. Read more here.
