Reflections on COP29: No deal is better than a bad deal
The outcomes of COP29 are a betrayal of the urgent needs of both people and the planet. Climate justice movements and civil society have unequivocally rejected these measures, exposing the alarming inadequacy of the global response to the escalating climate crisis. The Global North, which continues to expand fossil fuel extraction and bears historical responsibility for the majority of environmental degradation and carbon emissions, has once again failed to make meaningful climate finance commitments. The financial promises fall woefully short—offering false hope rather than the new and additional resources, estimated in trillions annually, that are required.
This critical moment in history demands robust international cooperation and meaningful support. The necessity of a Fossil Fuel Treaty, operating alongside the Paris Agreement, has never been clearer. Such a treaty would serve as a vital mechanism to hold developed nations accountable, ensuring they phase out oil, gas, and coal first and fastest while providing the financial and technical support that developing nations need. These countries, often reliant on fossil fuels for revenue, employment, and energy, must be empowered to transition towards clean, renewable energy systems in a just and equitable manner.
A growing global consensus underscores the urgency of such a treaty. Supported by a diverse coalition of cities, sub-national governments, parliamentarians, Nobel laureates, youth activists, financial institutions, and leaders across faith and health sectors, this movement is gathering momentum. As we approach 2025, we call on you to join this movement advocating for a Fossil Fuel Treaty that would establish the frameworks necessary to ensure fairness and equity in the global transition away from fossil fuels, particularly for the countries and communities most in need.
Despite the setbacks of COP29, our collective future hinges on the choices we make today and our unwavering commitment to climate justice.
Harjeet Singh
Global Engagement Director at the Fossil Fuel Treaty Initiative
Join our upcoming webinar: “Making sense of COP29 and the path to financing a global just transition away from fossil fuels” to hear from experts, journalists, and climate movement leaders from around the world in this global webinar discussing the COP29 outcome and the urgent need for greater international cooperation on climate finance and a fossil fuel phase out. This is a free webinar and all are welcome!
GABV became the first financial network to endorse the Fossil Fuel Treaty
On Finance Day at COP29, the Global Alliance for Banking on Values (GABV) became the first financial network to endorse the Fossil Fuel Treaty! With 25 member banks, managing $117 billion in assets, GABV is leading the way by calling for a global plan to phase out fossil fuels, ending new coal, oil, and gas projects. This is a bold commitment to sustainable finance and a fair transition away from fossil fuels.
G20 Summit failed to commit to a fossil fuel phase out
G20 leaders are failing to live up to their climate responsibilities. Despite last year's COP28 commitment to "transition away from fossil fuels," G20 countries are dodging the need to establish specific obligations around fossil fuel phaseout or climate finance.
Barcelona Province joined the call for a Fossil Fuel Treaty at COP29
The Barcelona Provincial Council officially backed the Fossil Fuel Non-Proliferation Treaty, joining 14 countries, 120 cities, 4,000 organizations, and nearly a million individuals in calling to end fossil fuels. With its 311 municipalities and 5.7 million residents, Barcelona’s endorsement strengthens the call for better local funding and bold climate leadership.
“One of Canada’s most prominent environmental crusaders is being named among TIME’s Top 100 most influential climate leaders worldwide. Tzeporah Berman, a Vancouver-based activist and policy advocate, is at the forefront of climate action nationally and internationally. Her latest brainchild, the Fossil fuel Non-Proliferation Treaty, aims to check the expansion and end fossil fuels use and transition equitably away from coal, oil and gas in favour of clean energy to save the planet and people.”
“The Fossil Fuel Non-Proliferation Treaty, as it has become known, is modelled on its nuclear cousin. It seeks to end new exploration and production of coal, oil and gas, phase out existing stockpiles, speed up the transfer of clean energy technology to poorer nations, enable a just transition for workers and communities, and help countries still dependent on fossil fuels diversify their economies.”
“It is time to recognise that we need to complement existing frameworks with the negotiation of a Fossil Fuel Non-Proliferation Treaty to address the root cause of the climate crisis: our dependence on fossil fuels. Fourteen nations, including fossil fuel producers Colombia and Timor-Leste, have already come together to drive this process forward, showing that this is both necessary and possible. We have faced existential threats before and taken bold, collective action.”
SOCIALS WORTH SHARING
No Deal is Better Than a Bad Deal
“If this is how money is going to be provided, we are all doomed.” It’s time to deliver justice, not loans.
