COP29 sets collective goal for climate finance“/>
On COP29 a new collective quantitative target for climate finance should provide the means to implement the UAE consensus, commensurate with the scale of the challenge everyone faces.
As Day.Az reports with reference to Trend, this was said by the Minister of Industry and Advanced Technologies of the UAE and the General Director of the Abu Dhabi National Oil Company (ADNOC) Sultan bin Ahmed al-Jaber at the pre-meeting of the Conference of the Parties to the United Nations Framework Convention on Climate Change (Pre-COP29).
“We must ensure that funds are made available to the most vulnerable people to help them build resilience to climate change and recover from its impacts. And all previous promises must be kept. This is the moment of truth. Previous commitments must be kept,” he said.
The world needs robust, highly reliable carbon markets that will drive investment in both mitigation and adaptation, he said.
“We simply cannot afford any more delays. When it comes to mitigation and adaptation, we must treat them as equals. Parties must reach the agreed goal of doubling adaptation, funding and including fully funded strategies in their national adaptation plans,” he added. Sultan bin Ahmed al-Jaber.
It should be noted that the Pre-COP is held a month before the COP itself and is intended to “synchronize watches” of the participants in the Paris Agreement on climate change on the main issues of combating climate change.
Pre-COP29 is taking place in Baku on October 10-11 under the motto “Raising Ambition and Ensuring Action.”
The opening ceremony on October 10 will be attended by COP29 President-designate, Minister of Ecology and Natural Resources of the Republic of Azerbaijan Mukhtar Babayev, COP28 President, UAE Special Envoy for Climate Change, UAE Minister of Industry and Advanced Technologies Sultan A. Al Jaber.
UN Deputy Secretary-General Amina J. Mohammed, UNFCCC Executive Secretary Simon Steele and other officials are also expected to speak.