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UN stresses need for urgent climate action, financial reform at COP29
(MENAFN) The United Nations on Monday emphasized the critical need for climate action and financial reform, urging world leaders to address the urgent threats posed by climate change. Simon Stiell, Executive Secretary of the UN Framework Convention on Climate Change (UNFCCC), stated in his opening address at COP29 in Baku that a strong commitment to climate finance benefits all nations and is essential, not charitable. According to Stiell, investing in climate solutions is a matter of self-preservation for countries worldwide, including the wealthiest and most powerful.
COP29, the 29th Conference of the Parties to the UNFCCC, began on Monday in Baku, Azerbaijan, and is scheduled to run until November 22. The conference brings together global leaders, policy makers, and environmental activists to forge a unified response to the escalating impacts of climate change. Key topics for discussion include global warming, adaptation strategies, and sustainable practices that could lead the world toward a more resilient future.
Stiell highlighted that achieving a robust new climate finance goal is in the direct interest of every nation. He pointed out that a global transition to cleaner energy is imperative, with investment needs expected to reach USD2 trillion by 2024. Stiell advocated for accelerated efforts in clean energy development and underscored that the climate crisis impacts everyone across the globe, regardless of geography, and requires immediate action to mitigate its effects.
He also called for the completion of Article 6, a framework for establishing international carbon markets, which could enable more effective climate mitigation efforts globally. Warning of the severe economic consequences of inaction, Stiell noted that if climate change goes unchecked, it could cripple the global economy. He concluded by urging nations to collaborate on a comprehensive and practical approach to navigate the challenges ahead, stressing that finding solutions is imperative for global stability.
COP29, the 29th Conference of the Parties to the UNFCCC, began on Monday in Baku, Azerbaijan, and is scheduled to run until November 22. The conference brings together global leaders, policy makers, and environmental activists to forge a unified response to the escalating impacts of climate change. Key topics for discussion include global warming, adaptation strategies, and sustainable practices that could lead the world toward a more resilient future.
Stiell highlighted that achieving a robust new climate finance goal is in the direct interest of every nation. He pointed out that a global transition to cleaner energy is imperative, with investment needs expected to reach USD2 trillion by 2024. Stiell advocated for accelerated efforts in clean energy development and underscored that the climate crisis impacts everyone across the globe, regardless of geography, and requires immediate action to mitigate its effects.
He also called for the completion of Article 6, a framework for establishing international carbon markets, which could enable more effective climate mitigation efforts globally. Warning of the severe economic consequences of inaction, Stiell noted that if climate change goes unchecked, it could cripple the global economy. He concluded by urging nations to collaborate on a comprehensive and practical approach to navigate the challenges ahead, stressing that finding solutions is imperative for global stability.
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