BAKU, Azerbaijan, November 19. The Netherlands stands ready to deliver on climate change mitigation agreements, said Dutch Deputy Prime Minister and Minister of Climate Policy Sophie Hermans, Trend reports.
As she delivered her national statement at the COP29 summit, PM Hermans called for global unity and decisive action to combat climate change. She emphasized the importance of collaboration and transparency, stating, "If we want to turn the tide on climate change, we have to stand together. The Netherlands stands ready to help, to deliver what has been agreed, even when it is difficult".
Hermans highlighted the Netherlands’ expertise in water management, renewable energy, and financial innovation. She pointed to Dutch-led initiatives, such as investments by Amsterdam-based asset manager ILX, which recently expanded its climate fund to $1.7 billion by blending public and private finance. The Netherlands delivers 1.8 billion euros annually in climate finance, with 60% directed toward adaptation for vulnerable communities, largely through grants.
The deputy PM also stressed the importance of phasing out fossil fuel subsidies and increasing transparency, urging other nations to join the Netherlands’ international coalition dedicated to achieving this goal.
"We are spearheading an international coalition to deliver on the promise made since COP26. To phase out fossil fuel subsidies. I encourage you all to join us and take the next step in increasing transparency. Identifying barriers and taking national action. Ladies and gentlemen, to scale up our collective efforts, we need everyone, including the markets. Especially the markets. Considering the scale of the challenge, we know that every challenge presents an opportunity. Opportunities for today, but especially for generations of the future. We are at a turning point," she further noted.