Azerbaijan, Kazakhstan explore COP29 outcomes, future initiatives

Azerbaijan’s Minister of Ecology and Natural Resources, Mukhtar Babayev, has met with Kazakh Ambassador to the country, Maksat Mamytkanov.

During the meeting, the sides discussed the outcomes of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, which took place this November in Azerbaijan, Caliber.Az reports.

The discussion also included plans for next year’s activities under the COP29 presidency, along with global and regional initiatives.

Additionally, the sides exchanged views on other matters of mutual interest.

COP29 has reached a significant agreement on climate finance, with a commitment to allocate $250 billion annually until 2035.

One of the key decisions made at the conference was the adoption of the New Collective Quantified Goal. This decision calls for a collective effort from all parties to increase climate finance for developing countries, with the goal of mobilizing at least $1.3 trillion annually by 2035 from both public and private sources.

Additionally, the decision reflects proposals from developed countries to increase climate finance from the current $100 billion per year to $250 billion by 2035. This increase is aimed at supporting climate initiatives in developing nations.

By Vafa Guliyeva