BAKU, Azerbaijan, November 18. UN Secretary-General António Guterres has called on G20 leaders gathered in Rio de Janeiro on November 17 to take a leading role in reducing greenhouse gas emissions and to support climate negotiations taking place simultaneously in Azerbaijan, Trend reports.
"A successful outcome at COP29 is still possible, but it will require leadership and compromise from the G20 countries," Guterres, who has been attending the summit of the world's largest economies since November 18, said at a press conference in Brazil.
Guterres also stressed the importance of a $1 trillion agreement for climate investments in developing countries, which is central to the discussions in Baku.
"The G20 countries, responsible for 80 percent of global emissions, must lead this process," he added.
US President Joe Biden, addressing the issue, announced that his administration had allocated $11 billion for bilateral climate financing this year. He also referred to President Donald Trump, who will assume office in two months, and underscored that the clean energy revolution led by his government is an irreversible process.
Brazil’s Minister of the Environment, Marina Silva, noted that it is essential for G20 participants to "do their homework and support the progress of COP29 negotiations in Baku".
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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