Climate activists say wealthy countries, responsible for over 75% of global accumulated emissions since the start of industrialisation, have an obligation to support developing country climate action and pay for climate adaptation, the loss and damage caused by the impacts of climate disaster

Activists will take part in hundreds of climate actions around the world this Friday to call on the governments in the Global North to pay up US$5 trillion annually as a down payment towards their climate debt to the countries, people and communities of the Global South who are the least responsible for climate disaster but are the most affected.

Climate activists say wealthy countries, responsible for over 75% of global accumulated emissions since the start of industrialisation, have an obligation to support developing country climate action and pay for climate adaptation, the loss and damage caused by the impacts of climate disaster, and for a just transition away from fossil fuels to renewable energy and climate-resilient societies. A 2023 study shows that by 2050 the Global North will owe US$192 trillion in fair reparations to the Global South – even if we can limit warming to an average 1.5°C. That breaks down to an annual climate debt of US$5 trillion owed by wealthy countries to poorer ones.