Baku TV prepared a report on the fourth day of COP29 within the framework of the “COP-BAKU” project.
It was reported that on November 14, four state institutions of Azerbaijan participated in various discussions. At the same time, renowned scientific centers around the world have tried to contribute to the fight against climate change with new proposals.
It was noted that the influence of the global financial system on the private sector in the fight against climate change was discussed. The main goal here is to mobilize business circles in developing countries to protect the climate.
Final decisions have already been made regarding some of the discussions held at COP29 over the past three days. One of them was the signing of the Agreement with the host country for the implementation of the Loss and Damage Fund, the appointment of the executive director of the Fund and the allocation of 19 million dollars by Sweden.
Speaking to “COP-BAKU” about the agreements reached, COP29 chief negotiator Yalchin Rafiyev stressed that an important issue that has been discussed for 10 years has already been resolved.
“The decision on the implementation of standards in global carbon trading markets was very important for COP29, because there is no practice of making such a decision at the beginning of the COP. Typically, these decisions are made at the end. Giving This step of The First Day was the result of our work since the beginning of the year,” said Yalchin Rafiyev.
The COP29 chief negotiator noted that an important agreement was reached on financing the fight against climate change.
The World Bank, the European Bank for Reconstruction and Development, the Asian Development Bank, the Islamic Development Bank and the Multilateral Development Bank have announced a combined contribution of $170 billion over the next five years for climate action, against to the 75,000 million dollars that they are. fruit of the respect shown to our host country”.
In the detailed plot:
The important issue that has been discussed for years was resolved at COP29
