We Must Reach Deal On New Ambitious Climate Finance Goal In Baku - UN Secretary-General
Date
11/21/2024 7:13:37 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, November 21. We must secure
an agreement on a new ambitious climate finance target in Baku, the
Secretary-General of the United Nations, António Guterres, said in
a media briefing as part of the COP29 in Baku, Trend reports.
"We need an agreement on a new, ambitious climate finance goal
here in Baku. Through various components, this goal must mobilize
the necessary financing for developing countries," the
Secretary-General said.
Guterres emphasized the critical importance of financial growth
in addressing climate challenges.
"Each government must be allowed to benefit from clean,
affordable renewable energy and a fair energy transition while
accelerating emissions reductions. Financial growth is essential
for all countries to protect themselves and their people from
climate disaster and to strengthen trust between nations," he
added.
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 main expectation from COP29 is to agree on a fair and
ambitious New Collective Quantitative Goal (NCQG) on climate
finance.
The UN Framework Convention on Climate Change is an agreement
signed at the Rio Earth Summit in June 1992 to prevent dangerous
human interference in the climate system. The acronym COP
(Conference of Parties) stands for“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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