Global South demands $13 trillion in aid from wealthy nations.

Rich G7 nations owe poor countries an estimated $13tn in unpaid development aid and support in the fight against climate change, according to British charity Oxfam. Developed countries promised in 2009 to transfer $100bn annually between 2020 and 2025 to climate-vulnerable states, but that target has not been met. Instead, the G7 nations and their banks are demanding debt repayments of $232m per day. Carbon emissions from rich nations are estimated to have caused $8.7tn in losses and damage to low and middle-income countries.