11/10/24

UAE: UAE calls for climate finance to implement COP29 consensus

As published on: azernews.az, Friday 11 October, 2024.

Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technologies and CEO of ADNOC, emphasized the importance of securing adequate climate finance to implement the UAE consensus during the Pre-COP29 meeting in Baku, Azernews reports.

Addressing participants, Al Jaber highlighted the need for the "new collective quantified goal for financing climate action" at COP29 to provide funding aligned with the scale of challenges faced globally. He stressed the importance of honoring previous financial commitments and ensuring resources are directed toward the most vulnerable populations to enhance resilience against climate impacts.

Al Jaber also called for dependable and resilient carbon markets to stimulate investments in mitigation and adaptation strategies, urging parties to treat both as equal priorities. He emphasized the need for coordinated efforts to double adaptation funding and incorporate fully funded strategies into national adaptation plans.

The Pre-COP29 meeting, held a month before the main COP29 conference, focuses on aligning participants of the Paris Agreement on key climate change issues under the theme "Raising Ambitions and Ensuring Action."

Key speakers at the event include Mukhtar Babayev, Azerbaijan’s Minister of Ecology and Natural Resources and COP29 President Designate, as well as UN Deputy Secretary-General Amina Mohammed and UNFCCC Executive Secretary Simon Stiell. COP29 will take place in Baku this November, attracting 70,000–80,000 attendees from around the world.

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UAE Climate finance COP29