00:00So Trump winning elections is a huge setback to not only climate talks but global cooperation
00:17in general.
00:18We know he's likely to reverse all clean energy policies and incentives in the US.
00:24He's going to go for fossil fuel extraction much more, which is going to be devastating
00:28for the planet.
00:29And he's not going to provide any climate finance, which is so vital for developing
00:34countries to transition away from fossil fuels.
00:38So the outcome of the US elections is definitely going to impact negotiations at COP29, US
00:43being the biggest historical emitter and now the top fossil fuel producer has an outsized
00:49responsibility not only to reduce its emissions, move away from fossil fuels, but also provide
00:54finance.
00:55And US not being at the table is going to really affect the negotiations in a big way.
01:01What we need right now is more ambition and developing countries have been looking to
01:06develop countries to meet their targets and here we are where US is not going to be able
01:12to meet its obligations and not even provide finance.
01:15So it's going to affect climate action across the board.
01:19So if developing countries do not get finance, it's very clear we will not be able to achieve
01:25the target of staying below 1.5 and rather we will reach beyond three degree Celsius
01:30of warming, which is going to be devastating for everybody.
01:33We want an ambitious goal and as climate activists and civil society, we are demanding at least
01:40$5 trillion should be committed annually to be provided.
01:45And out of that $1 trillion should be public finance, which means grant.
01:50And that's the kind of scale we need to meet the targets that we have set for ourselves.
01:55It is really unfortunate that many of the world leaders are not attending a COP29 climate
02:00conference, and it doesn't really send a good signal because this is probably the most important
02:07COP after Paris, because if you don't provide money, nothing is going to move.
02:12So we want leaders to show up in big numbers and demonstrate their commitment because that's
02:19what is needed right now.
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