“I have just returned from the G20 Summit in Rio. COP29 was very much on the agenda,” said António Guterres, UN Secretary-General, as he addressed the press conference held in Baku on Thursday.
“I urged G20 leaders to instruct their ministers and negotiators to secure a new ambitious climate finance goal at COP29. And I heard leader after leader stress the importance of concrete success. Delegations, and the COP Presidency, are working hard to find common ground. But, as I said in my opening remarks here, the clock is ticking. I sense an appetite for agreement. To deliver an ambitious and balanced package on all pending issues, with a new finance goal at its heart. Failure is not an option,” the UN Secretary-General added.
“A surge in finance is essential to ensure all parties can deliver new national plans aligned with 1.5 degrees – as they must, and to give every government the chance to reap the benefits of clean, cheap renewables and a just energy transition, simultaneously accelerating the reduction of emissions,” the UN chief noted.”
“Finance is not a hand-out. It’s an investment against the devastation that unchecked climate chaos will inflict on us all,” Guterres mentioned.
“Last week, multilateral development banks announced a significant boost in climate finance for low- and middle- income countries. This will reach $120 billion a year by 2030 with another $65 billion mobilised from the private sector. I urge every party to step-up, pick-up the pace, and deliver,” the UN chief emphasized.
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