2024-02-11 02:04:17
An important theme of COP29 is financing
As Day.Az reported on Monday with reference to Trend, the special representative of the German Federal Foreign Office for international climate policy, Jennifer Morgan, told reporters in Baku.
“To achieve the transformation of our economic systems, we need to move the financial system away from financing fossil fuels and unsustainable land use towards renewable energy, energy efficiency, sustainable land use, decarbonization of the industrial sector. A key issue for the COP is the New Collective Quantified Goal. “,” she noted.
Morgan mentioned that most countries around the world have adopted a long-term goal of achieving net-zero emissions by 2050.
“Often, COP presidents use the opportunity of this event to actually raise their own ambitions and demonstrate their seriousness in combating the climate crisis by setting themselves the goal of achieving net-zero emissions. We would of course advise and hope that Azerbaijan will also do this by the middle “I think one of the responsibilities of the COP president is also to look at what countries are doing to address the climate crisis. But we know that we are far from our goal of keeping global warming to 1.5 degrees Celsius,” she added. .
Morgan believes the key outcome of COP28, chaired by the UAE, was the decision to commit to a just transition from fossil fuels to tripling renewable energy and doubling energy efficiency by 2030.
“This year, of course, all attention will be focused on implementing the results of COP28,” she emphasized.
It should be noted that the decision to host COP29 in Azerbaijan was officially announced in Dubai on December 11, 2023. Azerbaijan will host the event in November this year.
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