BAKU, Azerbaijan, November 21. Time has ripened to find potential compromise solutions, United Nations Secretary-General António Guterres said at a COP29 media briefing today, Trend reports.
"I was just listening to the delegations' statements and realized that they are still holding onto their initial positions on issues of climate financing and mitigation. Now is the time to act from those starting points and find potential compromise solutions," he also said.
Guterres illuminated the horizon, suggesting that the sands of time have not yet slipped through the hourglass.
"I'm confident that an agreement can be reached, but after that, it’s not so much about the initial position of each party but about finding a way to compromise because the core goal of this COP is financing, but at the same time, we must take into account the concerns of countries regarding various aspects that are important for their future," 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 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.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel