Bonn Climate Meetings: Parties convene for crucial “Baku to Belem Roadmap” consultations
Bonn, June 19, AZERTAC
The Bonn Climate Meetings featured an open consultation event with parties regarding the “Baku to Belem Roadmap” on June 18.
Addressing the event, Mukhtar Babayev, the Azerbaijani President’s Special Representative on Climate Issues and COP29 President, said:
“Enhanced support for developing countries will allow for greater ambition in their actions. Under the framework of the UNFCCC, hundreds of billions of dollars have been mobilized for the developing world, but the scale and urgency of the task demand that we go further.”
“And we need to agree on a new Climate Finance Goal to support the developing world in the second decade after the Paris Agreement. Under the UNFCCC, we have never previously set out to establish a goal like this. We were firm that the goal had to be fair and ambitious. In the final moments, we landed a long-awaited deal on the Baku Finance Goal. This tripled the previous goal, with a pledge to mobilize at least 300 billion dollars per year for the developing world by 2035. This is the largest-ever finance goal to come from the UN process,” he noted.
“It is regrettable that we have only had two submissions from the Multilateral Development Banks (MDBs). This is not what parties expect. We call on shareholders to urgently help us address these concerns. We need to keep these organizations focused on the climate crisis, in line with their commitments made during COP29. We must provide strong leadership and set clear expectations for the private sector’s role in shaping a sustainable economy for the future,” Mukhtar Babayev said.
“We must take responsibility for lobbying our relevant colleagues to participate in and follow up on discussions regarding the ‘Baku to Belem Roadmap.’ As the COP29 Presidency, we understand that concessional and grant-based public finance is the backbone of the Baku Finance Goal.”
He said the COP29 Presidency had always been grateful for donors’ willingness to discuss their responsibilities under Article 9 of the Paris Agreement, “but now, they need to deliver. We will hold donors to their promises. We will keep asking—Where is the adaptation finance that was promised in Glasgow? Where is the 300 billion?”
According to him, the COP29 Presidency will be lobbying donors at the upcoming Fourth International Conference on Finance for Development in Seville.
Mukhtar Babayev reaffirmed that the COP29 Presidency will remain active in keeping climate action on the global agenda, highlighting the entry into a new era of climate finance and urging parties to step up and contribute to the Baku to Belem Roadmap.
In his remarks, André Corrêa do Lago, COP30 President-designate, underscored the significance of involving all state actors in discussions on climate finance.
He said they are listening to offers from parties regarding the development of the Baku to Belem Roadmap, which will be presented at the end of October.
Simon Stiell, UNFCCC Executive Secretary, urged developing countries to collaborate closely.
“Climate finance is not a favour. It is not charity. It is the bedrock of trust on which this system works and is an investment in global stability. That is why we need a practical, credible pathway to mobilize climate finance for developing countries, reaching at least 1.3 trillion dollars per year by 2035.”
Other speakers included Elmaddin Mehdiyev, Director of the Azerbaijan International Development Agency (AIDA), and Luiz de Andrade Filho, Head of the Climate and Environment Section at the Embassy of Brazil in France.
The event concluded with discussions and suggestions regarding the Roadmap.
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