As leaders gather at COP29 in Azerbaijan, a report by Christian Aid reveals that residents of the 10 most climate-vulnerable nations received less than $1 annually in climate finance. These countries, home to 750 million people, bear disproportionate climate impacts despite contributing least to global emissions. The report calls for more public, grant-based funding and progressive taxes on polluters to address the crisis.

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• 10 most climate-vulnerable countries received < $1/person annually in climate finance.
• These nations account for 9% of global population but got < 2% of all climate funds.
• COP29, termed “Finance COP,” focuses on revising the outdated $100B/year finance goal.
• Christian Aid report criticizes reliance on private finance, citing minimal impact on vulnerable communities.
• In 2022, only 3% of all climate finance reached low-income nations.
• Private finance prioritizes profit; just 0.5% goes to climate adaptation.
• $270B spent on fossil fuel subsidies dwarfs climate adaptation funding sevenfold.
• Report urges progressive taxes on polluters, particularly fossil fuel firms, to boost public funding.
• Developing nations face growing debt crisis due to inadequate grant-based funding.
• Leaders at COP29 are called to rebuild trust and address glaring climate injustices.