BAKU, Azerbaijan, November 15. Key challenges encountered during climate audits have been revealed, Chairman of the Accounts Chamber Vugar Gulmammadov said during the COP29 event themed "Where Are Governments with Their Climate Action? First Results of the ClimateScanner Assessment" at COP29 on November 14, Trend reports.
He pointed out that some of these challenges are related to the audit institute, while others stem from the environment in which the audit is conducted, and most of them are relevant to the supreme audit institutions (SAIs) of all countries.
Among the main challenges, the chairman specifically highlighted issues with the scope and timely submission of information related to climate activities, the lack of expertise that could be considered adequate in terms of climate financing, the observation of discrepancies between the theory and practical application of green budgeting, the existence of climate-related audit standards still in the development stage, the need for auditors to acquire specialized knowledge and skills in this area, and the necessity to increase the number of audits.
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 at the Baku Olympic Stadium on November 11. It is the largest event organized by Azerbaijan to date and the first time in the region that it is being held in Azerbaijan.
Within COP29, the highest-level event - the summit of world leaders on climate action - was 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.
In addition to being a top priority that creates the conditions for action, creating climate finance will also help fulfill the 1.5°C pledge by bringing everyone together.
The UN Framework Convention on Climate Change is an agreement signed at the Rio Earth Summit in June 1992 to prevent dangerous human interference in the climate system. The acronym COP (Conference of Parties) stands for “Conference of Parties” and is the highest legislative body overseeing the implementation of the Framework Convention on Climate Change.
A total of 198 countries are parties to the Convention. Unless otherwise decided by the parties, COP is held annually. The first COP event was held in March 1995 in Berlin, and its secretariat is located in Bonn.
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