BAKU, Azerbaijan, November 19. As part of COP29 in Baku, Trend News Agency proudly presents COP for Hope, a special project offering an unparalleled platform to hear from world leaders and trailblazers in politics, economics, science, and ecology, all united by a shared commitment to addressing today’s pressing climate challenges.
Today, we are honored to speak with the Gambian climate finance consultant Bubu Fateh Yalo.
He told Trend that a financial goal program should be agreed upon, one that could serve as a compromise not only for developed countries but also for developing ones.
He also unveiled the tapestry of his aspirations for COP29.
"Despite the absence of conclusive actions regarding the financial crisis, the negotiations indicate that ultimately, the nations of the globe will achieve a consensus on this matter. The timing of that occurrence is difficult to ascertain. We must reach a consensus on a financial target program that serves as a compromise for both rich and developing nations. This constitutes my primary anticipation for COP29.
The world comprises more than just developed nations. We must consider the nations most susceptible to climate change, along with biological organisms. Developed nations must not remain apathetic about the countries most impacted by climate change and the organisms harmed. In this situation, both wealthy and developing nations should not only negotiate financing matters but also undertake significant initiatives," 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.
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 whopping 198 countries have thrown their hats in the ring as parties to the Convention. Unless the parties decide to change the game plan, COP takes place once a year. The inaugural COP event took place in March 1995 in the bustling city of Berlin, Germany, with its secretariat nestled in Bonn.
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