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Georgia's PM calls for increased financial commitment at COP29

Economy Materials 13 November 2024 11:39 (UTC +04:00)
Georgia's PM calls for increased financial commitment at COP29
Maryana Ahmadova
Maryana Ahmadova
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BAKU, Azerbaijan, November 13. The success of COP29 depends on the outcome of the collective quantified goal, said Georgian Prime Minister Irakli Kobakhidze as he delivered its national statement at the COP29 summit in Baku, Trend reports.

Irakli Kobakhidze addressed world leaders at the COP29 summit, thanking Azerbaijan for hosting the historic event, the first time a country from the South Caucasus region has done so. He expressed his gratitude to President Ilham Aliyev and COP29 President-designate Mukhtar Babayev for their leadership in making the conference a success.

The PM highlighted the urgency of tackling climate change, acknowledging its far-reaching impacts, particularly on vulnerable nations like Georgia. “Climate change is one of the greatest challenges of our time,” Kobakhidze stated, noting the devastating consequences, such as the rapid melting of glaciers and rising sea levels, which are disrupting economies and livelihoods across the world.

Kobakhidze also emphasized the intersection of human rights and environmental protection, pointing to Georgia’s own constitutional commitment to the right to a clean environment. He recalled Georgia’s presidency of the Council of Europe during 2019-2020, which prioritized human rights and environmental protection, laying the groundwork for significant legal advancements.

In his speech, the Prime Minister reaffirmed Georgia’s commitment to the Paris Agreement, pledging to halve global greenhouse gas emissions by 2030. “The path ahead requires bold actions and global cooperation,” he said. He also outlined Georgia’s intention to submit its third-generation nationally determined contributions (NDCs) by 2025, aiming to keep global warming within the 1.5°C target.

Kobakhidze stressed that the success of COP29 depends on the outcome of the collective quantified goal on climate finance, urging for a significant increase in the current $100 billion target to ensure adequate financial support for climate action in developing countries. “It is essential that financial resources are aligned with the goals of the Paris Agreement to drive global efforts toward sustainability,” he added.

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