Youth demand to end fossil-finance
They also urge the largest emitters to ensure loss and damage finance for the communities at-risk owing to the climate crisis
Young people at an event in Dhaka have demanded the termination of fossil finance and redirecting the investments made in fossil fuel to sustainable projects and renewable energy.
At the Global Climate Strike in front of the National Press Club on Friday, they said ending fossil finance is not a question of financial or technical capacity, it is rather a matter of global leaders' will.
There are enough funds to fulfil the goals of Sustainable Development Goals (SDGs) if public investment banks and private sector organisations redirect the investments made in fossil fuel to sustainable projects and renewable energy, they also stated.
Hundreds of young people from Activista Bangladesh Platform of ActionAid Bangladesh and more than 24 youth organisations attended the event, said a press release.
Young people also urged the historically largest emitters/Global North financial institutions to immediately stop fossil funding and ensure the loss and damage-finance for the communities at-risk owing to the climate crisis.
At the event young activists demanded climate justice through slogans, placards, and posters demanding "Tomorrow is too late to end fossil finance"; "Loss and damage payments are long due"; "There is no planet B"; "STOP! Listen to my EARTH"; "BURN Borders, NOT Coals"; "Treat every crisis as a crisis"; "LOVE Trees, PLANT Trees"; and many more.
They blamed the fossil financers from the Global North for the climate crisis, neocolonial exploitation, wars, and human rights violations. With the capitalist mindset of making a profit, the historically largest emitters of greenhouse gases are fueling the destruction of the planet by funding fossil fuel extraction, which is largely impacting the climate-vulnerable countries in the South.
SM Jannatul Naeem, a young activist of ActionAid Bangladesh, said, "Every year, water in coastal areas is rising, and it is becoming difficult for us to live where I come from. We are fighting for our presence and the future of the next generations. We believe the sooner we act, the more secure our future will be."
Md Nazmul Ahsan, manager of ActionAid Bangladesh, remarked "Fossil finance is rapidly increasing instead of renewable energy investment. This is totally against our goal of building a just world."
Farah Kabir, country director of ActionAid Bangladesh, said, "Increasing fossil-finance trend is a prime example of capitalist mindset to prioritise profit over people. It's drastically destroying the ecosystem and climate, disproportionately impacting the Southern countries and marginalised communities. If we fail to act, societies will experience catastrophic ecological and environmental damage and human displacement."