BAKU, Azerbaijan, July 29. Azerbaijan's COP29 Presidency will be able to achieve good results, Trend reports via UN Assistant Secretary-General, UNDP Assistant Administrator, and Director of the Bureau for Policy and Programme Support Marcos Neto's X repost.
He pointed out that COP29 will be dedicated to financial issues, and it's first necessary to agree on a new measurable goal for financing climate measures.
According to him, the green transition will cost trillions of dollars, and therefore, a system defining financial ambitions needs to be agreed upon in November in Baku.
UNDP would like to support the government of Azerbaijan, and the entire international community should help the COP Presidency achieve this result, which is a very important issue, Neto explained.
This November, Azerbaijan will host COP29. This decision was made at the COP28 plenary meeting held in Dubai on December 11 last year. Baku will become the center of the world and will receive about 70–80,000 foreign guests.
The United Nations Framework Convention on Climate Change is an agreement signed at the Earth Summit in Rio de Janeiro in June 1992 to prevent dangerous human interference with the climate system. The COP—the Conference of the Parties—is the highest legislative body overseeing the implementation of the Framework Convention on Climate Change. There are 198 countries that are parties to the Convention. Unless the parties agree otherwise, the COP is held annually. The first COP event took place in March 1995 in Germany's Berlin, with its secretariat in Bonn.
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