By Gloria Dickie and Simon Jessop

BAKU (Reuters) – A group of conflict-affected countries is pushing at COP29 to double financial aid to more than $20 billion a year to combat the natural disaster and security crises facing their populations, as per a letter seen by Reuters.

The group is one of several pitching at the climate talks in Azerbaijan this week for funds to better prepare for the impacts of extreme weather, with countries seeking to agree on a new annual target for financing.

Island nations argue that climate change threatens their existence as sea levels rise, while rainforest nations seek additional funds to protect their vast carbon sinks.

Countries affected by conflict and its aftermath report struggles in accessing private investment due to perceptions of high risk. This has heightened the importance of U.N. funds for their populations, many of whom are displaced by war and climate-related disasters.

In response, the COP29 Azerbaijan Presidency will launch a new 'Network of Climate-vulnerable Countries,' including several g7+ nations, which originally made the appeal.

The network aims to advocate for member countries with climate finance institutions, enhance capacity in states to absorb more finance, and establish platforms for investors to identify high-impact projects, according to the think tank ODI Global, which assisted in creating this network.

Countries like Burundi, Chad, Iraq, Sierra Leone, Somalia, Timor-Leste, and Yemen have joined the initiative, with all 20 g7+ members invited to participate.

Abdullahi Khalif, Somalia’s chief climate negotiator, expressed hope that the network would provide a real support platform for needy countries.

This initiative follows a letter from the g7+ to the United Nations, World Bank Group, International Monetary Fund, and COP presidencies last month, asking for enhanced support.

The letter demands an explicit commitment in any final deal at COP29 to double financing for climate adaptation, aiming for at least $20 billion per year by 2026.

While 45 of the world's least developed countries have their own U.N. negotiating group that includes some g7+ states, advocates emphasize that conflict-affected countries face unique challenges.

"A flood situation in South Sudan or Somalia creates more catastrophe than it would in any other developing country," stated Habib Mayar, g7+ deputy general secretary, who coordinated the letter.

According to UNICEF, a child born in South Sudan, which has been in turmoil since 2013, was 38 times more likely to be displaced internally by climate-related disasters than a child from Europe or North America in 2022.

However, conflict-affected countries only received $8.4 billion in climate funding in 2022 — about a quarter of the needed amount, as per a 2024 analysis by ODI Global.

Mauricio Vazquez, head of policy for global risks and resilience at ODI Global, remarked, "It's clear that climate funds aren't doing enough to support the world's most climate-vulnerable people."