BAKU, Azerbaijan, November 18. Over three billion people stand vulnerable to climate change impacts, Adaptation Fund Board Chair Lucas di Pietro said at the COP29 High-level Meeting on Investing in Human Development for a Climate Resilient Future today, Trend reports.
"This open reality underscores the relevance of our collective efforts. I would like to express my sincere gratitude to the President of COP29 for organizing this meeting," he pointed out.
According to him, the Baku Initiative is an important step that perfectly aligns with the adaptation funds, which are designed to finance specific climate adaptation projects that benefit the most vulnerable communities in developing countries.
"We prioritize the needs of children, youth, women, and marginalized groups, aiming to create long-term institutional and conviction-based skills, ensuring that everyone has the opportunity to build a better future for adaptation and creativity.
Together, we have the opportunity to strengthen resilience and ensure a sustainable and just future for the world. Let us turn this commitment into positive actions that lead to lasting change," he added.
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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