Ireland Ramps Up Climate Finance To Protect Vulnerable To Climate Change - Irish Minister
Date
10/11/2024 5:10:23 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, October 11. Ireland's climate
plan is focused on supporting those most vulnerable to climate
change, Ireland's Minister for Environment, Climate,
Communications, and transport Eamon Ryan said at a panel session at
the Pre-COP29 forum in Baku, Trend reports.
“We have set an ambitious target for climate finance in 2021 to
reach $225 million by 2025, more than double previous levels. One
of the key objectives of our climate plan is to better manage
finance, as reflected in the Balancing Act. Poverty alleviation and
access to infrastructure remain critical priorities even in the
face of climate change,” Ryan noted.
He added that Ireland contributes significant funds to several
multilateral climate funds, such as the Green Climate Fund, the
Adaptation Fund, and the Global Environment Facility. These
organizations support countries in building capacity and creating
an enabling environment for sustainable finance.
“We realize that the existing mechanisms are sometimes not
effective enough, and we need to look for new approaches to
accelerate climate action,” the minister concluded.
Baku is hosting the second day of Pre-COP29.
Plenary sessions and side events are scheduled within the
framework of the second day of the event.
The 29th session of the Conference of the Parties to the UN
Framework Convention on Climate Change (COP29) will be held this
November in Azerbaijan. The decision was made at the plenary
meeting of COP28 held in Dubai on December 11 last year. Within two
weeks, Baku will become the center of the world and will host about
70-80,000 foreign guests.
The UN Framework Convention on Climate Change is an agreement
signed at the Earth Summit in Rio de Janeiro in June 1992 to
prevent dangerous human interference in the climate system. The
abbreviation COP (Conference of Parties) means“Conference of
Parties” and is the highest legislative body overseeing the
implementation of the Framework Convention on Climate Change.
A total of 198 countries are parties to the Convention. Unless
otherwise decided by the parties, COP is held annually. The first
COP event was held in March 1995 in Berlin, and its secretariat is
located in Bonn.
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