“We need to recover from the losses and damage we have faced, as well as build resilience to future impacts and take on green development pathways.” HOW THE FINANCE FLOWS: CORPORATE CAPTURE OF PUBLIC FINANCE FUELLING THE CLIMATE CRISIS IN THE GLOBAL SOUTH 12 FOSSIL FUELS AND INDUSTRIAL AGRICULTURE: THE ENERGY AND FOOD SYSTEMS THAT ARE FAILING US The fossil fuel and industrial agriculture industrie. [...] For most Global South countries, where agriculture tends to form the backbone of the economy, the steady loss of livelihoods due to the industrialisation of agriculture, the disappearance of smallholdings that provide livelihoods and foods for rural people, and lack of alternative economic strategies for rural areas, all exacerbated by climate change impacts, contribute to the present and future j. [...] Meanwhile, climate financing provided for the Global South to undertake mitigation and adaptation, and to address loss and damage, is critically lacking.35 For the planet to have a chance of averting runaway climate breakdown, climate financing from the Global North countries that have done the most to cause climate change, to the Global South countries on the front lines of the crisis, is an esse. [...] As the IPCC clearly states: “there is sufficient global capital to close the global investment gaps but there are barriers to redirect capital to climate action”.38 For the subsequent sections of this report, we will focus on the role and magnitude of public financial flows in support of the fossil fuel and industrial agriculture sectors in the Global South, with a general understanding that the N. [...] HOW THE FINANCE FLOWS: CORPORATE CAPTURE OF PUBLIC FINANCE FUELLING THE CLIMATE CRISIS IN THE GLOBAL SOUTH 31 The corpse of a camel that succumbed to the elements in Somaliland amid the worst drought in decades.
Related Organizations
- Pages
- 50
- Published in
- Australia
Table of Contents
- THE INJUSTICE OF CLIMATE CHANGE 10
- PART 1. THE NEED TO TRANSFORM FOOD AND ENERGY SYSTEMS FOR PEOPLE AND THE CLIMATE 10
- RISING TEMPERATURES BROKEN RECORDS RUINED LIVES 2024 TIMELINE OF CLIMATE DISASTERS 11
- BOX 1 11
- FLOODING IN BANGLADESH TAJNAHARS STORY 12
- FOSSIL FUELS AND INDUSTRIAL AGRICULTURE THE ENERGY AND FOOD SYSTEMS THAT ARE FAILING US 13
- OIL POLLUTION IN THE NIGER DELTA 14
- ITS TIME TO TRANSFORM OUR FOOD AND ENERGY SYSTEMS 16
- GENDER INEQUALITY FACED BY WOMEN FARMERS HARMS OUR FOOD SYSTEMS 18
- BOX 2 18
- FINANCE FLOWS ARE FAILING THE PLANET 19
- PART 2. HOW FINANCE FLOWS ARE EXACERBATING THE CLIMATE FOOD AND ENERGY CRISES 19
- SPOTLIGHT ON COUNTRIES PUBLIC FINANCE 21
- EXTERNAL INFLUENCE ON PUBLIC POLICY 22
- BOX 3 22
- DIRECT INDIRECT EXPLICIT AND IMPLICIT SUBSIDIES 23
- BOX 4 23
- PUBLIC FINANCING FOR INDUSTRIAL AGRICULTURE 24
- PUBLIC SUBSIDIES FOR FOSSIL FUELS 25
- PUBLIC FUNDS FUELLING PUBLIC HARM 26
- A ROCKY ROAD FOR RENEWABLE ENERGY INVESTMENT 26
- LACK OF PUBLIC FINANCING FOR AGROECOLOGY 30
- ZAMBIA AND ZIMBABWE A TALE OF TWO COUNTRIES 30
- PART 3. SHIFTING FINANCE FLOWS ENSURING A JUST TRANSITION 32
- A JUST AND DEMOCRATIC ENERGY REVOLUTION 35
- BOX 5 35
- PART 4. SOURCING AND SCALING-UP PUBLIC FINANCE FOR CLIMATE ACTION 36
- PART 5. CONCLUSIONS AND RECOMMENDATIONS 40
- METHODOLOGY 42
- ENDNOTES 45
- International Registration number 27264198 50
- Website www.actionaid.org Telephone 27 11 731 4500 Fax 27 11 880 8082 Email mailjhbactionaid.org 50
- ActionAid International Secretariat Postnet Suite 248 Private Bag X31 Saxonwold 2132 Johannesburg South Africa. 50
