African Countries' Main Expectation - To Define Measurable Financial Target - PACJA
Date
11/13/2024 2:12:06 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, November 13. One of the key
expectations of African countries at COP29 in Baku is the
establishment of a new collective, measurable financial goal,
Charles Peter Mwangi Nyambura, a representative of the Pan African
Climate Justice Alliance (PACJA), told reporters at COP29 in Baku,
Trend
reports.
Nyambura highlighted that the push for a new financial goal is
driven by the severe consequences of climate change on the African
continent.
"These harsh impacts lead to loss of life and livelihoods.
Specifically, our development programs require external resources,
including contributions set at the national level," the
representative said.
Nyambura further pointed out that since domestic resources are
insufficient, these funds are expected to come from external
sources.
"We have called for these resources. Africa requires $1.3
trillion to meet its new collective financial goal. This is what we
are striving for and what has brought us here. We assert that
adaptation is the continent's top priority," he added.
To note, the 29th session of the Conference of the Parties to
the UN Framework Convention on Climate Change (COP29), which will
run until November 22, opened on November 11 at the Baku Olympic
Stadium.
The event is the largest organized by Azerbaijan to date and is
the first time the region has hosted the event in Azerbaijan.
Within COP29, the highest-level event - the summit of world leaders
on climate action - will be held on November 12–13.
The main expectation from COP29 is to agree on a fair and
ambitious New Collective Quantitative Goal (NCQG) on climate
finance. The COP29 chairmanship has launched 14 initiatives that
include linkages between climate action and the Sustainable
Development Goals, including green energy corridors, green energy
storage, harmony for climate resilience, clean hydrogen, methane
reduction in organic waste, action on green digital technologies,
and other topics.
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