BAKU, Azerbaijan, November 21. It is crucial to reach an agreement on all key aspects of the Paris Agreement at COP29, Rachel Kyte, the UK’s Special Representative for Climate, said at a press conference during the conference, Trend reports.
"It is absolutely vital that we reach an agreement here at COP29 on all key aspects of the Paris Agreement: climate change mitigation, adaptation, and finance. The UK is ready to support and collaborate with all countries and the presidency to achieve a new collective quantitative goal (NCQG)," she said.
Kyte further stressed the need for an NCQG that would accelerate actions to keep the goal of limiting global warming to 1.5°C within reach.
"The new benchmark must be ambitious, realistic, and achievable, with a priority on public financing but also the potential to attract more private capital. It must also emphasize the need to accelerate reforms of international financial institutions and multilateral climate funds. We need to demand more decisive action on debt sustainability and ensure easier access for developing countries," she added.
To note, the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), which will run until November 22, opened at the Baku Olympic Stadium on November 11. It is the largest event organized by Azerbaijan to date, and the first time in the region that it is being held in Azerbaijan.
Within COP29, the highest-level event - the summit of world leaders on climate action - was held on November 12–13.
The main expectation from COP29 is to agree on a fair and ambitious New Collective Quantitative Goal (NCQG) on climate finance. The COP29 Presidency has launched 14 initiatives that include linkages between climate action and the Sustainable Development Goals, including green energy corridors, green energy storage, harmony for climate resilience, clean hydrogen, methane reduction in organic waste, action on green digital technologies, and other topics.
In addition to being a top priority that creates the conditions for action, creating climate finance will also help fulfill the 1.5°C pledge by bringing everyone together.
The UN Framework Convention on Climate Change is an agreement signed at the Rio Earth Summit in June 1992 to prevent dangerous human interference in the climate system. The acronym COP (Conference of Parties) stands for “Conference of Parties” and is the highest legislative body overseeing the implementation of the Framework Convention on Climate Change.
A total of 198 countries are parties to the Convention. Unless otherwise decided by the parties, COP is held annually. The first COP event was held in March 1995 in Berlin, and its secretariat is located in Bonn.
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