Philippines, Malaysia stand ground against accepting bilateral loan offers from rich countries; insist on climate financing

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Eco-Business 20h ago

Philippines, Malaysia stand ground against accepting bilateral loan offers from rich countries; insist on climate financing - Eco-Business

Quick Summary:

As COP29 enters the final stretch, some developing countries are being approached by rich countries to agree on technical assistance and aid instead of promised climate finance, according to civil society organisations.

The veteran climate and human rights activist did not want to reveal which specific countries may be accepting deals from developed states, so as not to “antagonise” them.

As the climate talks come to a close, civil society groups say they would rather have no climate finance deal than one that will lock poor nations into debt for years to come.