2024-07-18 22:14:18
COP29 must agree on a clear and ambitious new financial plan to combat climate change.
As reported by Day.Az with reference to Trend, this was stated by the Minister of Ecology and Natural Resources of Azerbaijan, President of COP29 Mukhtar Babayev at the opening ceremony of the 18th Baku Summer Energy School ADA.
He stressed that with oil and gas revenues, Azerbaijan is currently supporting the energy transition and ensuring long-term sustainable development.
Babayev recalled that in November of this year the entire world will gather in Baku to discuss issues of building a global economy with zero emissions and limiting global warming to 1.5 degrees.
“To reach zero emissions by 2050, we need to develop technologies, and in this sense, the research conducted at ADA is very important. The main economic task in the world is to create conditions that will allow for the effective implementation of the energy transition, which is impossible without innovation and work in the direction of “green” trends,” Babayev emphasized.
According to him, the ambitious goal of the COP is to create a new climate situation, which is important for the cleanliness of air, land, and water.
“One of the main principles is to support everyone in the fight against climate change. We will encourage countries to develop new plans to reduce emissions, adapt to the effects of climate change and prepare transparent reports on their actions. Azerbaijan itself is working on updating its national plan to reduce emissions,” the minister said.
He also noted that a clear and ambitious new financial plan to combat climate change must be agreed upon at COP29.
“This will help remove barriers that prevent many developing countries and island states from implementing the climate agenda. Effective climate financing is necessary for the benefit of the planet,” the minister said.
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