“This UNFCCC process is the only place we have to address the rampant climate crisis, and to credibly hold each other to account to act on it,” said Simon Stiell, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC), as he addressed the opening ceremony of the 29th session of the Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change.
“This crisis is affecting every single individual in the world in one way or another. That’s why here in Baku, we must agree a new global climate finance goal. And I’m as frustrated as anyone that one single COP can’t deliver the full transformation that every nation needs. If at least two thirds of the world's nations cannot afford to cut emissions quickly, then every nation pays a brutal price. If nations can’t build resilience into supply chains, the entire global economy will be brought to its knees. So, let's dispense with any idea that climate finance is charity,” the Executive Secretary noted.
“An ambitious new climate finance goal is entirely in the self-interest of every nation, including the largest and wealthiest. But it’s not enough to just agree a goal. We must work harder to reform the global financial system. We need to move forward on mitigation, so targets from Dubai are realized. We mustn’t let 1.5 slip out of reach. Clean energy and infrastructure investment will reach two trillion dollars in 2024. Almost twice that of fossil fuels.
The shift to clean-energy and climate-resilience will not be stopped. Our job is to accelerate this and make sure its huge benefits are shared by all countries and all peoples. We must agree adaptation indicators. You can't manage what you don't measure. We need to know if we're on a pathway to increasing resilience.
And we must continue to improve the new mechanisms for financial and technical support on loss and damage.
We can’t make decisions in the dark. Biennial Transparency Reports, due this year, will give us a clearer picture of the progress we're making, and the gaps that need to be filled. Next year, all countries will deliver their third generation of national climate plans – NDCs. To support countries in creating and communicating them, the UNFCCC will launch a Climate Plan Campaign.
It will mobilize action from all stakeholders, and align with the efforts of the UN Secretary-General and the incoming Brazilian COP Presidency.
In parallel, we'll re-start Climate Weeks from 2025. We cannot leave Baku without a substantial outcome. Show determination and ingenuity here at COP29 – We need all Parties to push for agreement right from the start - to stand and deliver,” Simon Stiell added.
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