COP29 in Baku to drive new financing decisions for climate action, says official

The upcoming COP29 in Baku is expected to pave the way for new decisions on climate financing, Azerbaijani Deputy Foreign Minister and COP29 Lead Negotiator Yalchin Rafiyev said on Thursday.

He made the remarks at the "Voices of the Future: Coordinating Climate Action and Efforts Towards Global Goals" event, News.Az reports.

Hosted by Azerbaijan's Ministry of Economy and the UN Office in Azerbaijan, the event focused on advancing the Sustainable Development Goals.

Rafiyev noted, "When we reach consensus on these decisions, we will ignite a highly impactful process. Finance is critical to addressing many challenges, and through a constructive negotiation process, we hope to be as effective in facilitating cooperation as we have been within the Non-Aligned Movement."

Acknowledging the ambitious agenda for COP29, Rafiyev highlighted the challenges of limited preparation time.

"With strong commitment, dedicated efforts, and high-level political support, we have built the capacity needed to establish a successful collaborative process among UN members. We’ll soon witness this achievement. There’s no doubt that sustainable development and climate action go hand in hand," he added.

The 29th session of the Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change is set to take place in Azerbaijan from November 11 to 22. This decision was reached during the COP28 plenary session held in Dubai on December 11, 2023.

The United Nations Framework Convention on Climate Change (UNFCCC), which was established during the Earth Summit in Rio de Janeiro in June 1992, aims to mitigate harmful human impacts on the climate system. The acronym COP stands for "Conference of the Parties," which denotes the highest decision-making body responsible for overseeing the implementation and effectiveness of the UNFCCC.

This upcoming conference presents a crucial opportunity for young voices to contribute to the global climate dialogue, emphasizing the importance of youth engagement in shaping the future of environmental policies and actions.

News.Az