Oil Change International Media Advisory – COP29 Day 5
As COP29 enters its fifth day in Baku, the stark choice facing negotiators is clear: either deliver real solutions through public grants of at least $1 trillion annually in public funds, or fall back on inadequate private sector mechanisms that would not deliver the just energy transition while also exacerbating the Global South’s debt crisis.
FOR IMMEDIATE RELEASE
November 15, 2024
Contact:
Nicole Rodel, Oil Change International (in Baku) – [email protected] / +27842570627
Valentina Stackl, Oil Change International (ET – remote) – [email protected] +17342766260
Oil Change International Media Advisory – COP29 Day 5
As COP29 enters its fifth day in Baku, the stark choice facing negotiators is clear: either deliver real solutions through public grants of at least $1 trillion annually in public funds, or fall back on inadequate private sector mechanisms that would not deliver the just energy transition while also exacerbating the Global South’s debt crisis. With global temperatures continuing to break records and Global South and frontline communities bearing the brunt of climate impacts – just like we’re seeing unfold right now in the Philippines with Typhoon Usagi – the pressure is mounting on rich nations to move beyond rhetoric and deliver concrete financial commitments that match the scale of the crisis.
If you only have time for 3 things today:
- Read new analysis: COP29 Explainer: Why we can’t rely on the private sector to finance the energy transition – A new analysis showing how many governments and finance models overstate the role the private sector can play in financing a just energy transition.
- Press Conference: 11:30 -12:00 Members of Kick Big Polluters Out campaign decry the number of fossil fuel lobbyists at COP29 and demand: “Weed Out The Snakes!” (Press Conference Room Natavan, and live webcast)
- Action: 9:00 Climate Activists to Stage a Musical Demonstration Demanding a Funded and Equitable Fossil Fuel Phaseout (Location 4, Zone B)
This media advisory outlines:
- Today’s key events and releases:
- Releases:
- 7:00 Oil Change International to Release New Research on Climate Finance At COP29 (more below)
- COP29 Explainer: Why we can’t rely on the private sector to finance the energy transition – A new analysis showing why private sector finance alone cannot deliver a just energy transition
- Shifting and unlocking trillions for a just energy transition on the road to COP29 – An updated briefing on how COP29 depends on countries agreeing on a new climate finance target of at least $1 trillion per year in grants and grant-equivalent finance, with new data showing a private finance focused ‘investment’ or ‘mobilization’ target is not a viable replacement for this.
- Press Conferences:
- 11:00 The True Cost of Fossil Fuel Extraction on Lives and Livelihoods in the Global South (Natavan Press Conference Room, Zone D)
- 11:30 -12:00 Members of Kick Big Polluters Out campaign decry the number of fossil fuel lobbyists at COP29 and demand: “Weed Out The Snakes!” (Natavan Press Conference Room, and live webcast)
- Actions:
- 8:00 – 9:00 “Weed Out the Snakes” action and the Kick Big Polluters Out cross-constituency (Action Zones 4 & 5)
- 9:00 Climate Activists to Stage a Musical Demonstration Demanding a Funded and Equitable Fossil Fuel Phaseout at COP29 (Location 4 (near turnoff to pavilion area), Zone B, COP29 Blue Zone)
- 12:30 Demanding The End to LNG Expansion in Asia (location 2: Zone B)
- COP29 Climate Justice Coalition Global Day(s) of Action around the world
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- Tomorrow’s key events and publications (November 16):
- Press Conference: 9:00 AM Dangerous Distractions Delay Real Climate Action at COP29
- COP29 Climate Justice Coalition Global Day(s) of Action around the world
- Yesterday’s reactions, in case you missed them:
Today’s key events and releases (expanded):
Weed Out the Snakes: KBPO denounces number of fossil fuel lobbyists at COP29
More than 1770 fossil fuel lobbyists are roaming the halls of the United Nations Climate Change Conference, and their poisonous influence must end. Climate justice and human rights activists, Palestinian activists, youth, women and gender organizations, Indigenous groups, UNFCCC constituencies, and the global Kick Big Polluters Out coalition – collectively representing millions of people– are united in demanding governments urgently address the root cause of the climate crisis as well as the genocide in Palestine – the poisonous fossil fuel industry. This diverse makeup of movements and networks of people and communities worldwide are demanding as one voice: it’s time to Weed Out The Snakes!
David Tong, Industry Campaign Manager, Oil Change International, said:
“Fossil fuel corporations are driving the climate crisis, and their shady lobbyists are slithering around the UN Climate Change Conference blocking action while investing billions in new oil and gas. Our research shows the 54 companies who signed onto oil and gas companies’ ‘Decarbonization Charter’ at last year’s conference have since approved 68 new oil and gas projects and committed to nearly $250 billion in fossil fuel expansion. This locks in climate pollution equivalent to an entire year of U.S. carbon emissions. The IEA has made clear: any new fossil fuel expansion is incompatible with keeping warming below 1.5°C. Governments must adopt a conflict of interest policy to kick big polluters out.”
Peaceful Action – Weed Out the Snakes!
When: November 15, 2024, 8 AM – 9 AM (Baku time)
Where: Action Zones 4 & 5, in the lobby past registration
Visuals: Artivist Network-designed giant black poisonous snake will weave in and out of speakers who are chanting, speaking on the impacts of the number of fossil fuel lobbyists at COP29, and holding protest signs demanding to “Weed Out The Snakes” from the UN Climate Talks.
Speakers:
- Eric Njuguna , Alliance of Non-Governmental Radical Youth (ANGRY)
- Abeer Butmeh, Friends of Earth Palestine
- Dean Bhekumuzi, Don’t Gas Africa
- Jana Rashed, Climate Sirens
- Yegeshni Moodley, groundWork/ Friends of the Earth South Africa.
- Saoi O’Connor, Fossil Fuel Non-Proliferation Treaty, and Alliance of Non-Governmental Radical Youth (ANGRY)
Press Conference – Weed Out the Fossil Fuel Lobbyists at COP29!
This is a Kick Big Polluters Out press conference co-hosted by Climate Action Network, the Global Campaign to Demand Climate Justice, Women and Gender Constituency, and the youth constituency (YOUNGO)
When: November 15, 2024, 11:30 PM – 12:00 PM (Baku time)
Where: Press Conference Room Natavan, and live webcast (link forthcoming)
Speakers:
- Ned Tuguinay, Cordillera Peoples Alliance, Philippines
- Mohammed Usrof, Palestinian Youth Climate Negotiations Team
- Patience Nabukalu, Climate Activist #StopEACOP & FFF Uganda
- Pat Bohland, Women & Gender Constituency
- More speakers forthcoming
New Research Shows Governments and Finance Models Overstate the Role the Private Sector Can Play in NCQG, That Won’t Deliver Needed Funds
Oil Change International releases two new analyses on climate finance needs and solutions at COP29:
- COP29 Explainer: Why we can’t rely on the private sector to finance the energy transition – A new analysis showing that, unlike developed countries negotiating the NCQG suggest, private sector finance alone cannot deliver a just energy transition
- Shifting and unlocking trillions for a just energy transition on the road to COP29 – An updated briefing on how rich countries can mobilize over $5 trillion annually for climate action
KEY FINDINGS:
- Rather than each dollar of concessional (subsidized) public finance delivering $5 to $7 dollars of private finance for just energy transition as is usually claimed, real world data shows on average it has brought in just 85 cents.
- Briefing outlines why COP29 must instead deliver a new climate finance goal of at least $1 trillion annually in grants. A private finance focused ‘investment’ or ‘mobilization’ target is not a viable replacement for this.
- Research demonstrates rich countries can raise over $5 trillion annually through ending fossil fuel subsidies, polluter taxes, and financial reforms
STATEMENTS:
On private finance:
Bronwen Tucker, Oil Change International Public Finance manager said:
“The deadline for a new climate finance goal at COP29 means the rich countries most responsible for the climate crisis are on the hook to pay their fair share for fossil fuel phaseout and other global climate action. To avoid paying the trillions per year in public funding that they owe, governments like the UK, Canada, and Germany are arguing that the private sector can cover most of the just energy transition bill. But a decade plus of this approach shows it is not realistic. The ‘private sector first’ approach has been tried and tested. It will not deliver the needed funds, nor reach the countries, communities, and sectors that need it most for a fair energy transition.”
On unlocking trillions:
Laurie van der Burg, Oil Change International Public Finance lead, said:
“Last year countries agreed to phase out fossil fuels. Now it’s time for rich countries to pay up to turn this promise into action. There is no shortage of public money available for rich countries to pay their fair share for climate action at home and abroad. They can unlock trillions in grants and grant-equivalent climate finance by ending fossil fuel handouts, making polluters pay and changing unfair financial rules. They owe this money to Global South countries that have not caused this crisis and need fair finance to deliver climate plans next year that phase out fossil fuels. This is essential to avoid climate breakdown and save lives.”
Press Conference: The True Cost of Fossil Fuel Extraction on Lives and Livelihoods in the Global South
Our communities, ecosystems, and economies are experiencing the catastrophic impacts of the changing climate. Heatwaves, droughts, cyclones, and deadly floods have become our relentless reality—a hallmark legacy of fossil fuel extraction. Join us, frontline communities, as we share our firsthand accounts of the impact fossil fuel exploration and extractivism have had on our lives and livelihoods.
When Friday, November 15, 2024 11:00-11:30 local time
Where Press Conference – Natavan, Zone D
- Africa: Makoma Lekalakala – Earthlife, South Africa (2018 Goldman Environmental Prize winner)
- Latin America & The Caribbean: Apu Miguel Guimares – Amazonia Indigenous Confederation of Peru
- Pacific: Rufino Varea – Oinafa Community Rep, Island of Rotuma
- Expert: Ilan Zugman – 350.org
Climate Activists to Stage a Musical Demonstration Demanding a Funded and Equitable Fossil Fuel Phaseout at COP29
“Funded and Equitable Fossil Fuel Phaseout” — A musical demonstration featuring speeches from frontline representatives, choreographed dancing, and a message highlighting the urgent need for a just and funded transition off fossil fuels. The action will call for a just, equitable, and fully funded phaseout of fossil fuels, a transition to renewable energy systems that is fast, fair, feminist, and forever, and immediate action to #RampUp efforts and finance for a fossil fuel phaseout.
When Friday, November 15, 2024 9:00 AM Baku Time
Where Action Location 4 (near turnoff to pavilion area), Zone B, COP29 Blue Zone
- Coalition of international climate organizations including:
- Climate Action Network International (CAN)
- Asian Peoples’ Movement on Debt & Development (APMDD)
- Women & Gender Constituency
- Oil Change International
- Center for Biological Diversity
- Earthworks
- Zero Hour
Spokespeople and areas of focus
At COP29, reach out to us to connect with spokespeople to cover:
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- Financing a just transition: NCQG, fossil fuel subsidies and finance, financial architecture reform, Clean Energy Transition Partnership, Global Clean Power Alliance, OECD, MDB and G20 finance announcements.
- Fossil fuel phaseout: Troika fossil fuel expansion, Nationally Determined Contributions, diplomacy and negotiations, abatement, hypocrisy via oil and gas expansion, 1.5ºC scenarios
- Industry and False Solutions: Industry pledges, Oil and Gas Decarbonization Charter, IEA / WEO, CCS, False Solutions Subsidies, Kick Polluters Out
- United States: U.S. Election, U.S. fair share NDC, LNG, certified gas, U.S. subsidies, U.S. Congress
- Africa: Resistance to oil and gas in Africa, oil and gas expansion in Africa
OCI has spokespeople available on the ground at COP29 for interviews and press panels, as well as representatives in alternative timezones for those journalists not in attendance in Baku.
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