Emphasizing that addressing financial issues is a key focus at the COP29 conference, the minister noted: “We need to clearly define how to eliminate loss and damage caused by the negative effects of climate change and how adaptation measures should be implemented by 2035. However, at the same time, it is obvious that climate finance is not possible without mitigation.”
German Federal Foreign Minister Annalena Baerbock highlighted the importance of keeping the 1.5C target within reach while combatting climate change. The minister also stressed the significance of preserving the agreements reached in Dubai last year and developing the future financing systems based on them.
Noting that the European Union is ready to lead in this area and will fulfill its commitments by 2035, Annalena Baerbock underlined: “Europe is a reliable partner and will fulfill its commitment. But we can only do this if we have a broad donor base. The big emitters as well, who can afford it, need to get involved.”
The German foreign minister underscored the importance of facilitating access to climate finance for developing countries and creating fairer debt restructuring mechanism.
AzVision.az
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