It will take time to agree on new climate finance package: COP29 President – Long way to agree on new climate finance package COP29 President ntc
The President of Azerbaijan, which is hosting this year’s UN climate summit, said on Monday that countries have yet to agree on a new climate finance package to help developing countries reduce emissions and adapt to climate change. There’s a long way to go.”
At the press conference, COP29 President Mukhtar Babayev expressed concern over the slow progress in resolving key issues. He requested the ministers to take responsibility and work quickly. “There is still a long way to go on the new Collectively Quantified Target (NCQG). Politicians must engage urgently and constructively,” Babayev said.
Discussion on important issues
Upon the ministers’ arrival in Baku, Babayev stressed the need for cooperation to resolve key issues such as the structure of the NCQG, the amount of funding and who should contribute. He also said that the leadership of the presidents of the G20 countries meeting in Rio de Janeiro, Brazil this week is necessary for progress.
He further said that the success of COP29 depends on their commitment. I urge him to send a positive signal and give a clear mandate for action.
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UN climate chief Simon Steele also stressed rapid progress, particularly on the NCQG. He called on countries to address less controversial issues at the beginning of the week, allowing time to tackle the most challenging issues. Steele said ministers will have to roll up their sleeves and enter into difficult discussions.
