Activists have called on the governments in the Global North to pay $5 trillion yearly 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.

According to climate activists, wealthy countries responsible for over 75 per cent of global accumulated emissions since the start of industrialisation, have an obligation to support developing countries 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 $192 trillion in fair reparations to the Global South, even if warming is limited to an average 1.5°C. That breaks down to a yearly climate debt of $5 trillion owed by wealthy countries to poorer ones.

Nigerian activists and others will take part in hundreds of climate actions around the world today ahead of Climate Week NYC, with civil society groups.