Climate Finance Talks Require Clarification For Its Key Aspects - UN Secretary-General
Date
11/21/2024 7:13:38 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, November 21. Key aspects of
climate finance negotiations must be clarified, the
Secretary-General of the United Nations, António Guterres, said in
a media briefing, Trend reports.
Guterres stated that the financial outcome of COP29 would be one
of the crucial elements to address.
"I think it is important for each party to clarify its position
and proposals when the time comes. This is especially true for
financial matters, as I've mentioned before; the result must be
balanced, and all issues should be considered," he said.
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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