As the COP29 climate summit continues in Azerbaijan, activists staged a protest at the Baku sports stadium where the U.N. conference is taking place, holding up giant letters spelling out the words “Pay Up.” Financing is the key issue of this year’s summit, but wealthy nations like the U.S. have so far refused to commit the necessary funding to manage the climate crisis they have disproportionately created. This is Sandra Guzmán from the group GFLAC.

Sandra Guzmán: “For instance, if we reduce the fossil fuel subsidies, if we tax the richest, we could be already generating sources to pay for climate change. So it’s not a lack of money. It’s a lack of a political will to allocate that money where it is needed.”

This comes as a new report says $1 trillion per year should be spent on helping poorer countries mitigate the effects of the climate disaster. A separate report finds the world is on track for a disastrous 2.7-degree centigrade temperature rise. In other news from COP29, Argentina has withdrawn its 80+ negotiators from the U.N. conference. Argentina’s far-right President Javier Milei has previously called the climate crisis a “socialist lie.”