Nepal’s international summit: Azerbaijan committed to its role in ensuring high-level climate action on global agenda
Baku, May 16, AZERTAC
The issue of climate finance was a centerpiece of the COP29 Presidency. Azerbaijan is bringing together stakeholders to raise funds for mountain communities. Azerbaijan has also invited the Asian Development Bank (ADB), the Green Climate Fund, governments, development partners and the private sector to launch the Glacier to Farms (G2F) initiative. The project will mobilize up to $3.5 billion for investments in water resources, agriculture and communities threatened by melting glaciers and fragile mountain regions, said Mukhtar Babayev, Representative of the President of Azerbaijan on Climate Issues and President of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, at the ‘Sagarmatha Sambaad,’ a high-level global dialogue on the theme "Climate Change, Mountains and the Future of Humanity," held in Kathmandu, Nepal.
Noting that at COP29, a decision was made to ensure the full operationalization of the Loss and Damage Fund, Mukhtar Babayev mentioned that with its office, executive director who has a staff, the Fund is currently operating and has already begun approving projects.
Underlining that the COP29 Presidency insisted on the highest possible level of ambition, Babayev stated: “We were realistic and considered that the public sector will not be able to meet all the needs of the developing world. We called on all actors to step up and the countries tasked the COP Presidencies of Azerbaijan and Brazil to develop a ‘Roadmap from Baku to Belém” to reach the $1.3 trillion goal.”
“The COP29 Presidency will continue to work actively to ensure that donors fulfill their commitments,” Mukhtar Babayev underscored.
Recalling that this year’s National Climate Plans are crucial for enhancing the ambition, M. Babayev emphasized that the submission of emission reduction plans, known as Nationally Determined Contributions (NDCs), is essential.
Mukhar Babayev also expressed gratitude to the Government of Nepal for hosting the Summit, as well as for its contribution to this mission.
“We must think of the hundreds of millions of inhabitants living in mountain communities and the billions of people affected by what is happening there. We must move forward again in solidarity for a greener world,” he concluded.
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