Baku TV prepared a report on the eleventh day of COP29 within the framework of the “COP-BAKU” project.
It was reported that on November 21, the issues of efficient use of water, protection of forests and combating desertification according to the Paris Agreement were discussed.
Within the framework of COP29, the UN Secretary General, Antonio Guterres, announced that he feels the intention of reaching an agreement and that areas of adaptation have already been identified.
The Secretary-General said that an agreement on an ambitious new climate finance target should be reached in Baku.
“A big push is needed to deliver an ambitious and balanced package on all outstanding issues. Failure is not an option. Last week, the multilateral development banks announced significant climate financing for low- and middle-income countries. This is the year 2030 will reach 120 billion dollars a year until 2018, another 65 billion dollars will be mobilized from the private sector,” said Antonio Guterres.
On the eleventh day of the event, COP29 Executive Director Elnur Soltanov spoke in the “COP-BAKU” program about the scenario of global discussions. According to him, reaching agreements on Article 6 of the Paris Agreement is the most important success of the event.
“With this progress, we think that the issue of carbon markets can be activated in 2025. This is the most serious issue raised so far. In addition, this issue is considered as a component of climate finance. Part of the income from the markets “Resources allocated to adaptation processes will be spent,” said E. Soltanov.
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