Least developed countries and small island developing states are estimated to collectively require between US$29 and US$41 billion per year this decade to adapt to climate change.
As Day.Az reports on Friday with reference to Trend, the UK Minister of Climate Affairs said this Kerry McCarthy at the pre-meeting of the Conference of the Parties to the United Nations Framework Convention on Climate Change (Pre-COP29).
“We are all keenly aware of the need for urgent action in the face of the intensifying climate crisis, but action depends on effective funding, and many of those most needed to act are limited in their ability to get the support they need,” she said.
The Minister noted that least developed countries and small island developing states are among the most affected by the effects of climate change, while they are least responsible for its occurrence. However, they face difficulties in accessing the finance needed to adapt to these impacts and create pathways for green growth.
“On average, adaptation funding for least developed countries and small island developing states was only $7 billion per year from 2017 to 2021. Clearly, there is a significant gap. These figures reflect the difficulties climate-vulnerable countries face in accessing to the necessary financing in the required amounts,” she added.
It should be noted that Baku is hosting a preliminary meeting of the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), that is, Pre-COP29, preceding the climate summit itself.
Pre-COP29 in Baku is being held under the theme “Raising Ambition and Ensuring Action”.
The 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) will be held in November this year in Azerbaijan. This decision was made at the COP28 plenary meeting held in Dubai on December 11 last year. Within two weeks, Baku will become the center of the world and will receive about 70-80 thousand foreign guests.
The United Nations Framework Convention on Climate Change is an agreement signed at the Earth Summit in Rio de Janeiro in June 1992 to prevent dangerous human interference with the climate system. The abbreviation COP (Conference of Parties) translated from English means “Conference of Parties”, this is the highest legislative body that controls the implementation of the Framework Convention on Climate Change.
There are 198 countries that are parties to the Convention. Unless the parties agree otherwise, the COP is held annually. The first COP event took place in March 1995 in Berlin, and its secretariat is located in Bonn.