As the climate crisis intensifies, extreme weather events’ human and economic costs are mounting. Floods, droughts, heatwaves, and tornadoes are occurring with greater frequency and intensity, disproportionately affecting individuals and communities in the Global South. In response, climate finance sits at the top of the global agenda. At COP29, held last November in Baku, Azerbaijan, a new goal was set to invest $300 billion annually in developing countries - well below the $1 trillion initially demanded and far from meeting the growing needs. Additionally, crucial disagreements persist regarding the structure of these funds, including whether they should come from public or private sources, and in the form of loans or grants.
These discussions do not take place on a neutral playing field. They unfold within a global arena characterized by significant power asymmetries, where countries advocating for climate funding are often politically marginalized and their voices largely ignored. In other words, climate injustice extends beyond material disparities to encompass procedural inequities. Actors from the Global North dominate decision-making processes at the international level, frequently sidelining the perspectives of small island states, Global South nations, and socially, economically, or legally vulnerable groups.