BAKU, Azerbaijan, January 21. It is important that the global community considers increasing contributions to climate finance, said Azerbaijan’s Minister of Ecology and Natural Resources, President of COP29 Mukhtar Babayev as he addressed the World Economic Forum (WEF) session on "Road to COP30", Trend reports.
Babayev acknowledged the ambitious expectations from developing countries, stating, "The expectations are trillions, but we have decided to put on paper the figures and consider how to increase them." He highlighted the importance of collaboration among all stakeholders to meet these challenges, adding, "It is very important that all parties are ready to consider any possibility to increase these contributions."
Discussing the challenges of 2024, Babayev noted, "Imagine elections in 60 countries, 52 conflicts around the world, and all the risks that come with them." He also emphasized the growing impacts of climate change, which affect both developed and developing nations alike. "The frequency of weather events and climate change impacts are increasing, not only for the developing world but for all countries," he said.
Looking forward to 2025, Babayev expressed optimism about the opportunities ahead, urging action. "We need to think about how to make these pledges and ensure that we act on them," he said. He called for continued collaboration to support the COP30 team and progress on vital climate initiatives, such as national adaptation plans, new NDCs, and BTRs for 2024-2025.
Babayev concluded by stressing the importance of collective efforts: "We have a lot to do, and we will work together to support COP30, its Secretariat, and all stakeholders in this climate agenda."