Marina Silva: We Have The Opportunity For An Agreement On Climate Financing

11/25/2024 9:00:42 AM

(MENAFN- AzerNews) "Brazil has come to Azerbaijan with a commitment to Nationally Determined Contributions (NDCs). In this regard, Brazil is dedicated to setting an example for other countries, said Brazil's Minister of the Environment, Marina Silva, during a press conference held as part of COP29, Azernews reports.

"Unfortunately, we are still unable to reach an agreement on climate finance, even though we have the opportunity to do so, and we are all making efforts towards that goal," the Minister noted. She emphasized that parties must reach an agreement on crucial issues such as climate finance and a just energy transition.

"Developed countries must fulfill their commitments regarding climate finance," Marina Silva added, stating that the allocation of financial resources by these countries to combat climate change should not be viewed as a special concession to developing nations.

The Brazilian official expressed her pleasure in being in Baku and accepted Azerbaijan's presidency of COP. "The success of COP should be the success of our joint efforts, and we must remain committed to fulfilling the commitments we have made," she emphasized.

The 2024 UN Climate Change Conference (UNFCCC COP 29) was held in Baku, Azerbaijan on November 11-22.

The event gathered world leaders and negotiators from the member states (or Parties) of the UN Framework Convention on Climate Change (UNFCCC) to further global progress, with business leaders, young people, climate scientists, Indigenous Peoples, and civil society sharing insights and best practices to strengthen global, collective and inclusive climate action.

Among the key priorities of COP 29 are securing a new goal on climate finance, ensuring every country has the means to take much stronger climate action, slashing greenhouse gas emissions and building resilient communities.

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