BAKU, Azerbaijan, June 20. Humanity is currently in an emergency due to climate change, the 73rd President of the UN General Assembly Maria Fernanda Espinosa said during the panel discussion "Our financial response to climate change" at the 29th high-level meeting "Pathway to COP29: Sustainable and Resilient Future," Trend reports.
She noted that the main issue is that the measures taken are not enough to get out of this emergency situation.
"Climate-related problems are not only environmental problems. While discussing problems, climate goals, and targets, including climate finance, we always end with the topic of development actors. We negotiate trade, social cohesion, power distribution, and the position of countries and sectors in the geopolitical context. That is why climate negotiations are so politically onerous and complex. We realize that the pace of the negotiations is slower than the speed of the process. So it's not just about finance. I would say it's about the common practice of means of execution," Espinosa said.
To note, the main objective of this high-level meeting is to organize joint activities of all stakeholders to ensure the success of COP29 in Baku.
Preparations for COP29 in Baku include a multi-faceted approach to ensure a response to existing global challenges and opportunities in climate action.
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