Western countries underestimate the importance of climate financing for the Global South, Bernard Mwinzi, the head of communications for the African Group of Negotiators, told journalists on the sidelines of COP29, Report informs.
He noted that Western countries' attitude towards climate finance in the Global South appears as charity, while in reality, it is a necessity.
"The most regrettable thing is that they don't see this as a priority for the entire world, including themselves. Without adaptation financing, developing countries will be on the brink of disaster, which will inevitably affect the rest of the world," he added.
Mwinzi noted that the current climate crisis requires urgent action, as its consequences are already being felt in Global South countries.
"The crisis is already here. It is interconnected, and the consequences of climate change will be felt worldwide. Western countries must understand this and act together. Without significant financing, it's impossible to cope with these challenges," said the African Group representative.