‘Simply not good enough’ – Fairtrade responds to $100bn climate finance setback as COP26 summit draws near

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Responding to news of a likely delay to the annual $100bn in climate finance promised by rich nations to lower-income nations, Fairtrade Foundation’s Head of Policy Tim Aldred said:

‘COP26 summit hasn’t even begun, and already promises are being broken. This is simply not good enough. It is deeply disappointing, to say the least, that the money pledged by nations historically responsible for climate breakdown has been delayed once again.

‘Farmers in low-income countries who bear the brunt of the climate crisis, and who we depend on for much of our food, simply cannot afford to wait until 2023 for the climate finance that has been promised to their communities. Climate vulnerable nations need $100bn a year from now, not in two years’ time when the situation will only have deteriorated further.

‘The longer richer nations drag their heels on climate finance, the higher the likelihood that farmers – including Fairtrade farmers – will continue to see their livelihoods increasingly threatened. This is unjust, given they have done the least to cause climate change. They urgently need proper financial support to protect their families, communities and crops from the climate crisis. This money needs to reach them and it needs to reach them now.

‘Despite this week’s disappointing news, Fairtrade farmers are determined to continue challenging world leaders to ‘be fair with their climate promise.’ The UK Government in particular must use its leadership of COP26 to step up and deliver at this crucial time. The time for broken promises is past: the summit is our last, best chance to avert climate catastrophe.’

To find out more about the Fairtrade climate justice campaign, visit the campaign website.

ENDS

For more information contact tomilola.ajayi@fairtrade.org.uk

Caption: Illustration by Monica Obaga, 2021; commissioned by Fairtrade.