BAKU, Azerbaijan, November 12. Low-income
countries require access to climate finance, Director of Climate
and Energy Policy at the Union of Concerned Scientists Rachel
Cleetus said at a press conference within the framework of COP29,
Trend
reports.
“One of the pivotal issues at COP29 is climate finance, which is
urgently required by low-income countries to facilitate a swift and
equitable transition to clean energy, adapt to the impacts of
climate change, and address loss and damage effectively,” Cleetus
noted.
She stressed the critical need to achieve consensus on the New
Collective Quantified Goal for Climate Finance (NCQG), which is
projected to reach as high as $1 trillion.
“It is essential for high-emitting countries, such as the United
States, to take a leadership role in addressing this issue. At the
same time, the contributions of other nations, regardless of their
emissions levels, should also be actively encouraged and embraced,”
she added.
Cleetus also noted with concern the alarming acceleration of the
planet’s average temperature rise.
“If world leaders fail to take immediate action, we risk a
temperature increase of 3 degrees Celsius above pre-industrial
levels. This would lead to irreversible consequences for our
planet’s climate. We cannot afford to delay—every moment counts,”
she said.
To note, the 29th session of the Conference of the Parties to
the UN Framework Convention on Climate Change (COP29) has started
in Baku. The decision was made at the plenary session of COP28 held
in Dubai on December 11 last year.
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.
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