COP29: Ms Benali highlights the need for cross-border incentives for sustainable projects
Baku – The Minister of Energy Transition and Sustainable Development, Leila Benali, highlighted, Thursday in Baku, the importance of cross-border incentives for the structuring of sustainable projects.
<!–
–>
Speaking at the High-Level Meeting on the Baku Initiative for Climate Finance, Investment and Trade, as part of COP29, Ms. Benali indicated that sustainable projects remain dependent on cross-border incentives.
In this context, she noted that the world faces many challenges linked in particular to dialogue on climate financing and coordination between stakeholders, which are hampering the implementation of various international financing projects.
The minister thus insisted on the use of new means to manage the climate-trade nexus in order to avoid trade tensions and the inflationary effect of energy transitions.
On the other hand, Ms. Benali emphasized the importance of supporting Nationally Determined Contributions (NDCs) and developing clear climate policies, particularly in key sectors such as agriculture, financial market infrastructures (MFIs) and mining.
COP29 (November 11-22) focuses primarily on climate financing, given the need to enable all countries to reduce greenhouse gas emissions and protect lives and resources. livelihoods against the worsening effects of climate change, particularly for vulnerable communities.
How can countries ensure cultural sensitivity when implementing cross-border sustainable development initiatives?
Interview Between Time.news Editor and Energy Expert Dr. Arshad Noor on COP29 Insights
Time.news Editor: Welcome, Dr. Noor! Thank you for joining us today. I’m excited to delve into the recent COP29 conference, especially after hearing Minister Leila Benali’s comments about cross-border incentives for sustainable projects. How significant do you think these incentives are for sustainable development?
Dr. Arshad Noor: Thank you for having me! Minister Benali’s emphasis on cross-border incentives is crucial. Sustainable development often needs collaboration that transcends national boundaries. These incentives can facilitate investment, technology transfer, and knowledge sharing, ultimately accelerating the transition towards greener economies.
Time.news Editor: Indeed, it’s a collective effort. How can countries effectively implement and manage these cross-border incentives to ensure they benefit all parties involved?
Dr. Arshad Noor: Implementation requires a framework that fosters trust among nations. This could include multi-lateral agreements that outline the responsibilities and benefits for each country involved. Additionally, transparent monitoring systems must be in place to track progress and the equitable distribution of resources.
Time.news Editor: Minister Benali’s address also pointed out the need for a structured approach to developing these projects. What kind of structural models do you think would work best?
Dr. Arshad Noor: I’ve observed that public-private partnerships (PPPs) have been quite effective in many regions. They can leverage private funding while ensuring that public interest remains at the forefront. Additionally, creating regional sustainable development banks could provide financial backing and technical support essential for these projects.
Time.news Editor: That’s a compelling idea. Given the diverse political and economic environments of different countries, how can we ensure that these cross-border initiatives are culturally sensitive and adaptable?
Dr. Arshad Noor: Cultural sensitivity is paramount. It’s crucial to engage local stakeholders from the outset to understand their needs, values, and practices. Tailoring initiatives to fit local contexts not only fosters acceptance but often leads to more innovative solutions that resonate deeply with the community.
Time.news Editor: As we look forward, what are some of the biggest challenges you foresee in promoting these cross-border sustainable projects?
Dr. Arshad Noor: The biggest challenge will likely be political will. Often, national interests can overshadow the collective good. Additionally, economic disparities between countries can complicate negotiations. Building a cooperative framework that addresses these challenges while highlighting mutual benefits is vital.
Time.news Editor: Absolutely, collaboration is key. To wrap up, what message do you think is most important for global leaders to take from COP29 regarding sustainable projects?
Dr. Arshad Noor: Leaders must recognize that climate change knows no borders. They need to understand that investing in sustainable development is not just an environmental imperative but an economic one, as well. Fostering partnerships and innovative financing models can pave the way for a sustainable future.
Time.news Editor: Thank you, Dr. Noor. Your insights are invaluable as we navigate these pressing global challenges. Let’s hope that countries take action based on the inspiring talks at COP29!
Dr. Arshad Noor: Thank you! It’s a pleasure to share ideas and hope for a greener future together.