📣 Our voices are being heard!
👏 Both our demonstrations and open letter have been heard in Brussels!
🗞️ On Monday, leaked information published by ENDS Europe indicated that on Tuesday 8 October, member states are likely to formally sign off on a set of conclusions on climate finance for the upcoming UN climate change conference in Baku, Azerbaijan (COP29) that maintain Europe's commitment to phasing out inefficient fossil fuels subsidies globally.
The article follows with ->
🪧 "The meeting of finance ministers follows a demonstration in Brussels on Saturday where protestors, including Swedish activist Greta Thunberg, blocked a major thoroughfare while calling for an end to fossil fuel subsidies within the EU. A coalition of green groups had set out their demand in a letter sent to EU leaders ahead of the march."
🚨 However, some parts of the anticipated commitment are problematic:
One section notes that "the private sector will have to undertake the largest share of the required investment in net-zero, resource-efficient, and climate-resilient development.”
💸 While private finance plays a role, an expert report highlights the serious limitations of relying on private finance, stating that private finance “will never be sufficient” to tackle the scale of climate and environmental challenges. Not only is private financing insufficient, but reliance on private financing often positions austerity as an immutable reality.
⚠️ We argue, public investments and debt justice — especially for countries in the Global South — are crucial to achieving climate goals.
🗣️ Furthermore, COP negotiations have a history of producing commitments that are not followed by any accountable action. Therefore we demand the European Union to take immediate action to fulfil its commitment to end fossil subsidies, while driving other global leaders to do the same.
✊ Saturday’s protest was a huge step forward in pressuring EU leaders to take meaningful climate action, but this is far from the end. The fight to ensure that real, comprehensive solutions are put in place—ones that don’t rely only on private finance—continues.
We made our voice heard, but the work is far from over.
🤝 Join your local group's stop fossil subsidies campaign. Or set one up - we'll help you out!
🛑 STOP FOSSIL SUBSIDIES 🛑