Rwanda Urges New Climate Finance Goal As COP29 Begins

11/11/2024 9:30:20 AM

(MENAFN- IANS) Kigali, Nov 11 (IANS) Rwanda is pushing for a new global goal for climate finance that includes support for loss and damage, alongside mitigation and adaptation efforts, the Ministry of Environment said Monday.

"This call is critical for ensuring that countries most affected by climate impacts receive consistent support to recover and build stronger communities. At COP29, loss and damage is a priority for Rwanda, highlighting the need for sustained funding to assist communities facing the devastating effects of climate disasters," the ministry said in a statement as the 29th session of the conference of the Parties to the United Nations Framework Convention on Climate Change, or COP29, kicked off in Baku, Azerbaijan.

The ministry called for investment in long-term solutions that empower vulnerable nations to adapt and build resilience against a changing climate.

"Rwanda's delegation will also champion the value of transparency in climate commitments, advocating for clear and accurate information on the support exchanged between nations to build trust and accountability," it said, Xinhua news agency reported.

The two-week COP29 meeting brings together delegates from about 200 countries from governments, civil society, and the private sector to accelerate global efforts in addressing the climate crisis.

Rwandan President Paul Kagame has recently called for more funding from wealthy nations to tackle climate change, noting that the terms must be favorable, without pushing developing countries into more debt.

This year's climate conference is aimed at seeking a new climate change funding goal to replace the existing collective target of mobilizing and providing 100 billion U.S. dollars annually by developed countries in support of developing countries.

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