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.
India's Minister of State for Environment, Forest and Climate Change, Shri Kirti Vardhan Singh, became our next interviewee.
In an interview with Trend, he said that it is up to the developed countries to agree on funding.
“One of the key issues at COP29 is to reduce the climate impact on developing countries and increase and define new financial targets to be presented to achieve climate change goals. This finance must be provided by developed countries, as stipulated in the Paris Agreement. It is the developed countries that must agree on financing,” he said.
The Minister expressed hope that there will be significant positive results regarding climate finance at COP29.
To note, the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), which will last until November 22, was opened at the Baku Olympic Stadium on November 11. The event is the largest organized by Azerbaijan to date and is the first time the region has hosted the event in Azerbaijan.
The main expectation from COP29 is to agree on a fair and ambitious New Collective Quantitative Goal (NCQG) on climate finance.
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) means “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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