Power Shift Africa CEO: US staged 'Great Escape' from climate finance responsibility

An ambitious agreement needs to be adopted that will ensure fair climate financing from developed countries, Mohamed Adow, director and founder of Power Shift Africa, told journalists on the sidelines of COP29, Report informs.

"People's lives are at stake. We cannot allow the rich world to simply run away from their responsibility. What we are witnessing is an organized 'great escape' - led by the US, behind which the rest of the rich world is hiding," he said.

He noted that developing countries should not allow the agreements at COP29 to fail.

"We need developed countries to recognize their historical responsibility and act accordingly," Adow added.

He said that the success of negotiations is only possible if rich countries agree to provide at least 600 billion dollars in grant and concessional financing.

He noted that these funds are necessary for implementing measures to mitigate climate change impacts, adapt to them, and compensate for losses and damages that developing countries particularly acutely feel.

"We will reject a weak agreement. Anything below 600 billion dollars will not help the world cope with climate change. We will be here until the rich world takes responsibility and offers a solution that matches the scale of the climate crisis," he stated.