Malawi Pushes For Setting More Ambitious Climate Finance Targets
Date
11/23/2024 9:11:32 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, November 21. Malawi is
insisting on setting more ambitious climate finance targets, the
country's Lead Climate Negotiator Evans Njewa told reporters,
Trend reports.
“We won't be able to reach consensus in the negotiations on a
new collective quantitative goal (NCQG) if our interests are not
taken into account in the final document,” Njewa emphasized.
He also called for increased ambition on climate goals, saying
this would help developing countries overcome current challenges
and move forward.
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 at the Baku Olympic Stadium on
November 11. It is the largest event organized by Azerbaijan to
date, and the first time in the region that it is being held in
Azerbaijan.
Within COP29, the highest level event - the summit of world
leaders on climate action - was 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.
In addition to being a top priority that creates the conditions
for action, creating climate finance will also help fulfill the
1.5°C pledge by bringing everyone together.
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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