This year, leaders from all over the world met in Baku, Azerbaijan, for the 2024 United Nations Climate Change Conference, known as COP29. Every year, these conferences promise big changes to fight climate change, but history shows us that they often end with more talk than action. As rich countries in the Global North spoke about their ambitious plans for a green future, developing nations in the Global South prepared for disappointment yet again.

The divide between rich and poor countries has only grown wider. Will this year’s conference finally deliver solutions, or will it be the tipping point for nations tired of empty promises?

The $100 Billion Climate Finance Promise—Still Unfulfilled

Back in 2009, wealthy countries pledged to provide $100 billion per year to help poorer nations deal with climate change by 2020. Fast forward to 2024, and that promise has not been kept. What’s worse, experts say $100 billion isn’t nearly enough. Countries in the Global South, like India and many in Africa, insist they need at least $1.3 trillion annually to effectively adapt to climate challenges like rising sea levels, droughts, and extreme storms.

As India’s environment minister put it, “Climate finance is not charity; it’s an obligation.” This statement reflects the frustration of many leaders in the Global South who feel abandoned. They’re struggling to fund projects like renewable energy, flood defenses, and drought-resistant crops, while wealthy nations drag their feet on commitments.

Africa’s Unfair Share

African nations are some of the hardest hit by climate change, even though they contribute the least to global emissions. Yet, the continent receives just 3% of global climate finance. Countries like Mozambique, Zambia, and the Democratic Republic of Congo have faced repeated cyclones and disasters, displacing thousands and devastating their economies. Still, help remains scarce.

This leaves many African nations trapped in a vicious cycle. Without funds to recover and adapt, they’re constantly playing catch-up, unable to build a more secure future.

Privatizing the Problem: A Dangerous Trend

One heated debate at COP29 is the growing push for private investment in climate solutions. Wealthy countries praise private funding as the way forward, but many in the Global South see it as a cop-out. Shifting the responsibility to private companies allows governments to avoid accountability.

The problem? Private investors often prioritize profit, not people. For example, in sub-Saharan Africa, private firms fund renewable energy projects, but they’re usually aimed at cities or for export, leaving rural communities—the ones who need it most—without access to electricity.

The Fossil Fuel Problem

Adding fuel to the fire (quite literally), COP29 saw a record number of 1,700 fossil fuel lobbyists in attendance. Critics argue that their presence undermines the very purpose of the conference: transitioning away from coal, oil, and gas.

Small island nations, whose homes are at risk of disappearing under rising sea levels, are begging for urgent action. Meanwhile, fossil fuel companies are ensuring that changes remain slow so their profits stay high. As one delegate put it, “It’s like inviting arsonists to a fire safety conference.”

Hypocrisy Among the G20

While poorer countries struggle with life-or-death issues, the G20 nations—responsible for 75% of global emissions—are falling short on their promises. A recent report revealed huge gaps in their climate policies.

Take the United States as an example. Despite passing laws like the Inflation Reduction Act, which promises investments in clean energy, the country is far from meeting its climate goals under the Paris Agreement. Similarly, European nations face political pushback and energy demands that prevent them from taking bolder steps.

The Loss and Damage Fund: Hope or Another Broken Promise?

One bright spot from last year’s COP28 was the creation of a Loss and Damage Fund, meant to compensate vulnerable nations for the destruction caused by climate change. But so far, it’s just an idea on paper. No operational plan, no funding—just more delays.

For countries like Pakistan, which saw devastating floods in 2022 that displaced over 30 million people, this fund could make a huge difference. Without swift action, however, it risks becoming yet another empty promise.

The Stark Reality: Numbers Don’t Lie

The statistics are heartbreaking. In 2024, Africa will pay $163 billion in debt service, money that could have gone toward fighting climate change. Meanwhile, the fossil fuel industry made trillions in profits last year, with governments still subsidizing these polluting industries.

In 2022 alone, global fossil fuel subsidies hit a staggering $1 trillion, far more than what’s spent on renewable energy.

These financial choices highlight a troubling moral question: How can rich nations preach sustainability while continuing to fund coal plants abroad? And how can they demand emissions cuts from countries like India, whose per-person emissions are a fraction of those in the West?

A Call for Fairness

As COP29 comes to a close, the question is not just whether rich nations will listen, but whether they will act. Countries in the Global South, like Brazil, South Africa, and Indonesia, are demanding a more fair and just global climate system. This includes calls for debt relief, fair trade policies, and technology transfers.

Even Pope Francis has weighed in, urging leaders to rethink the global financial system. His words resonate with African leaders, where debt payments often overshadow spending on health and education.

“You Broke It, You Fix It”

Perhaps the most powerful moment of COP29 came not from a speech but from a simple sign held by a young activist in Nairobi, Kenya: “You broke it. You fix it.”

This statement sums up the frustrations of the Global South. They’re not asking for handouts. They’re asking for fairness. The climate crisis affects everyone, but the burden is not shared equally.

The house is on fire. Whether COP29 will be remembered as the place where the fire was finally extinguished—or allowed to spread unchecked—remains to be seen.