Ireland Ramps Up Climate Finance To Protect Vulnerable To Climate Change - Irish Minister

(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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