2024-07-29 04:21:30
The UNFCCC’s current goal on climate finance is how to increase the hundreds of billions of dollars a year approved in previous years to a trillion dollars each year to mitigate climate change, with a greater role for developed countries.
This was stated at the headquarters of the Youth Organization of the Non-Aligned Movement in Baku by the Executive Secretary of the UNFCCC Simon Steele, Day.Az reports with reference to Trend.
According to him, we need to try to put the puzzle pieces together correctly in order to achieve the step-by-step goals of reducing greenhouse gas emissions first by 43%, and then bringing the reduction to 60%.
“This is not about technical issues of reducing emissions, but about investment plans
transformation of the economies of countries around the world. In particular, it is necessary to understand the relationship between production capacity and the amount of emissions, and come to decisions that will not harm economic development,” Steele noted.
Also, according to him, it is necessary to support developing countries whose financial situation does not allow them to fully combat the consequences of climate change.
“We face a difficult task in 2024-25 – to reach an agreed collective decision on climate finance with an understanding of the role and responsibilities of each country,” Steele emphasized.
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