BAKU, Azerbaijan, November 15. As part of
COP29 in Baku, Trend
News Agency proudly presents COP for Hope, a special project
offering an unparalleled platform to hear from world leaders and
trailblazers in politics, economics, science, and ecology, all
united by a shared commitment to addressing today’s pressing
climate challenges.
Today, we are honored to speak with Senior Advisor
to the European Commission’s Climate Action Directorate Jacob
Werksman at COP29.
He told Trend
that new goals for climate financing are expected to be set at the
event.
According to Werksman, what is needed is an ambitious yet
realistic New Collective Quantitative Goal (NCQG) for climate
finance, so that a new climate finance target can be
established.
“It has been set at a high level, but not so high that it is
unattainable. More countries need to contribute to achieving this
goal.
Countries that have prospered over the past 30 years recognize
their responsibility to join us in solidarity to support developing
nations.
This also means acknowledging that the private sector plays a
very important role in securing these investments,” he added.
To note, the 29th session of the Conference of the Parties to
the UN Framework Convention on Climate Change (COP29), which will
run until November 22, opened on November 11 at the Baku Olympic
Stadium.
The event is the largest organized by Azerbaijan to date and is
the first time the region has hosted the event in Azerbaijan.
Within COP29, the highest-level event—the summit of world leaders
on climate action—was held on November 12–13.
The main expectation from COP29 is to agree on a fair and
ambitious NCQG on climate finance. The COP29 chairmanship has
launched 14 initiatives that include linkages between climate
action and the Sustainable Development Goals, including green
energy corridors, green energy storage, harmony for climate
resilience, clean hydrogen, methane reduction in organic waste,
action on green digital technologies, and other topics.
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