BAKU, Azerbaijan, November 13. Brazil hopes that a concrete decision on climate finance will be one of the main outcomes of COP29, said Brazil’s Minister of Environment and Climate Change Marina Silva at the "Troika High-level Dialogue: Our Roadmap to Mission 1.5 towards a future of shared prosperity", Trend reports.
“The consensus reached in the UAE established the Troika as a tool for developing the roadmap to Mission 1.5. Our main goal is to strengthen international cooperation and raise ambitions in the next round of Nationally Determined Contributions (NDCs), while ensuring that the targets for limiting global warming to 1.5 degrees Celsius remain achievable and strengthening global resilience. The reality of the climate emergency is felt on every continent. It is crucial to urgently raise ambitions, particularly among the world’s largest sources of emissions, and mobilize the necessary resources to implement them.
However, we need more funding, we need access to technologies, and we urge developed countries to support climate action in developing countries. The fight against climate change must go hand in hand with the fight against inequality and poverty. Climate finance, in particular, must be increased and made available for a just transition to a new cycle of prosperity in our societies. We hope that a concrete decision on this issue will be one of the main outcomes of COP29,” Silva said.
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 on November 11 at the Baku Olympic Stadium.
The event is the largest organized by Azerbaijan to date and is the first time the region has hosted the event in Azerbaijan. Within COP29, the highest-level event - the summit of world leaders on climate action - will be 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 chairmanship 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.
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