BAKU, Azerbaijan, November 11. Discussing climate action without addressing financing is futile, ActionAid International's Global Lead on Climate Justice Teresa Anderson said at a press conference in Baku, Trend reports.
"If we are serious about tackling climate change, we must back it with real financial commitments
Countries that have contributed little to the crisis are now bearing the brunt of its impacts. This is why nations affected by climate change urgently need COP29 to secure trillions of dollars in grant-based funding and establish a new climate finance target.
Rich nations in the Global North have a responsibility to provide substantial funding for climate action, yet they continue to evade their obligations. Rather than committing to the necessary financial resources, these countries are pushing the idea that private financing can bridge the gap—something that is neither sufficient nor reliable," she added.
COP29 is officially starting today in Baku. The event, which will take place from November 11 through 22, will bring together world leaders, politicians, and climate experts to discuss the pressing issues of climate change. Climate finance, emission reduction targets, and global cooperation are on the agenda. It is expected that the results of COP29 will have a significant impact on the formation of the future climate strategy of the planet.
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