BAKU, Azerbaijan, January 31. COP29 outcomes provide a roadmap for continuity in key areas, Mircea Fechet, Minister of Environment, Waters and Forests of Romania, said in an exclusive interview with Trend.
"The decisions made at COP29 will significantly shape the
collaborative efforts of the COP Troika as leadership transitions
to Brazil for COP30. These outcomes provide a roadmap for
continuity in key areas like climate finance, carbon markets, and
transparency," he said.
Fechet noted that the newly established $300 billion annual climate
finance goal creates a pivotal task for the Troika to ensure steady
progress.
"Azerbaijan's COP29 presidency has laid the foundation for
mobilizing these resources, but it will fall to Brazil to develop
innovative strategies to attract private investments while ensuring
accountability. Similarly, the operationalization of the Loss and
Damage Fund requires coordinated effort. Azerbaijan's success in
fostering trust among nations will support Brazil in refining fund
governance and disbursement mechanisms to address urgent needs of
vulnerable countries. The Troika will need to maintain momentum in
addressing expectations for tangible outcomes from this
mechanism," said the minister.
He pointed out that the finalized carbon market rules under Article
6 establish a framework for international cooperation on emissions
reduction.
"Brazil’s role will be critical in showcasing how these markets
can function effectively, particularly as the country has
significant natural carbon sinks. The Troika will ensure
consistency in implementing the environmental safeguards and
transparency standards set during COP29.
As countries prepare their Biennial Transparency Reports under the
Enhanced Transparency Framework, the Troika will play an essential
role in building capacity, particularly for developing nations.
Brazil will likely lead efforts to support regional collaboration
and strengthen compliance with these reporting requirements.
Lastly, Brazil's presidency will use COP29's achievements as a
baseline to push for greater ambition at COP30. This includes
fostering alignment on updated Nationally Determined Contributions
(NDCs) due by 2025. The Troika will coordinate to ensure progress
is not diluted and that the agreements reached in Baku drive
actionable results in Brazil. Together, the Troika’s collaboration
will be instrumental in transforming the commitments made at COP29
into impactful climate action," added the minister.
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