Eurosolar NL signs open letter by civil society organizations to COP28 leaders calling for public finance transformation
The letter calls for a stop to funding fossil fuels and false solutions such as ccs, which prolongs dependence on fossil fuels. Polluters, some of whom have had record profits in the last years, must pay. Public finance must be invested in the public interest, prioritizing community-led projects we need for a livable, sustainable, and equitable future. It is expected that these projects are responsibly, and transparently handled and that participating institutions respect and promote human rights. It calls for rebalancing the Global North-South power dynamics so that it is no longer prohibitively expensive to build renewable energy infrastructure in the Global South. The Global North has to address the ‘worst ever global debt crisis’ in the Global South by canceling debt. The Global North needs to redistribute funds from the most harmful part of the economy, including ending fossil fuel subsidies (as mentioned above), taxing the super-rich and by curbing over-inflated military budgets.
Eurosolar NL supports these points and has signed the letter.