The new deal on climate finance – agreed over the weekend at the annual UN Climate Change Conference, or COP29 – is staggeringly disappointing, falling well short of what is needed to tackle the climate crisis, according to global humanitarian and girls’ rights organisation Plan International Australia. 

The new deal, the New Collective Quantified Goal on climate finance (the NCQG), is inadequate in volume – at only $300 billion by 2035, well short of the $1.3 trillion that Global South countries on the front lines of the world’s worst and most frequent climate disasters have been calling for. It also does not include specific targets for funding support on adaptation and loss and damage.  

The outcome is also a significant setback for progress on equity, with no concrete pathway to address the needs of those most affected by the climate crisis, including children, and especially girls who are impacted disproportionately.  

This is a major missed opportunity to make sure that communities who are grappling with the crushing reality of climate change every day receive the critical, life-saving support that is their human right. 

Communities around the Pacific region in particular are already facing the climate crisis head on and girls and young women are bearing the brunt, missing school, facing food insecurity and greater risk of gender-based violence. Their lives are being fundamentally and forever reshaped by climate change. Half of Pasifika girls surveyed in our recent research reported missing out on school due to climate events. More than a quarter of girls said they have less food and almost 20 per cent are going hungry due to the climate crisis. According to Oxfam Australia, the number of people affected by climate disasters in the Pacific has increased by 700% in the last decade. 

“The outcome of the NCQG is devastating. Climate finance is not a luxury. It is a lifeline for communities facing the impact of the climate crisis. Girls face the worst of the climate crisis, and we cannot risk leaving them behind. We need climate finance to ensure intergenerational and gender justice. Unfortunately, this COP squandered hopes of achieving this,”  said Kupakwashe Matangira, a Plan International Australia youth activist and delegate to COP29. 

While the NCQG deal urges that climate finance efforts promote inclusion and benefits of vulnerable communities, including women, girls, children and youth, it falls egregiously short of incorporating gender and intergenerational justice principles. Plan International Australia is alarmed at the push back and erosion on gender equity that were reported across the negotiations at CO29. Increased attention and focus on human rights, and particularly gender and intergenerational justice, must be a feature of international climate action in the coming months and years.  

While COP29 failed to meet the moment, the commitment and leadership demonstrated by young people remains a beacon of hope, showing that progress is still possible. 

“It has been the young people on the ground at COP29 who have kept the fight for climate and gender justice alive. Our advocacy is unwavering; it is us who continue to challenge the structures and systems to provide hope for a fair and just future, keeping the fight for climate justice alive” said Tegan Clark, a Plan International Australia youth activist and delegate to COP29. 

As we look ahead to COP30 in Brazil next year, it is clear that children and young people will continue to be central in driving the agenda forward.  

“The passion, determination and commitment that young people, especially girls and young women, brought to COP29 is a sign of hope and optimism for the future even in the face of growing impacts of the climate crisis,” said Plan International Australia chief executive Susanne Legena. 

“As the world prepares for COP30, it is essential that young people’s voices are at the forefront. Plan International will continue to advocate for stronger commitments to gender justice, equitable climate finance, and intergenerational solutions to the climate crisis. A strong outcome at COP30 could be a lifeline, and a failure would be another wasted opportunity, putting the lives of today and tomorrow’s children in grave danger,” she said.