Azerbaijan's chairmanship of COP29 can contribute to the achievement of climate finance targets, Executive Secretary of the UN Framework Convention on Climate Change (UNFCCC) Simon Stiell said in Baku.
“During COP28 in Dubai, new financial targets were announced in the fight against climate change. We would like to see a certain part of our climate finance expectations met by 2030. We need to make progress at COP29, which will be held in Baku. Finance is a key topic this year, and Azerbaijan's chairmanship should support and contribute to a solution,” Stiell said at a meeting with young people in Baku.According to him, new climate plans are being developed before COP29.
“What will be developed this year and what will be presented in Brazil next year is a new phase of climate plans. These plans include Nationally Determined Contributions (NDCs). Their implementation aims to halve greenhouse gas emissions by 2030. “The “Troika” of the COP Presidency - the UAE, Azerbaijan, and Brazil - are helping the UN achieve these ambitious but necessary goals. Each of the COP Presidency parties is accountable for implementation, just like the UNFCCC,” Stiell noted.
