Baku hosts vital discussions on climate action for vulnerable nations at Pre-COP29 CALIBER.AZ EXCLUSIVE REPORT

On October 11, the Climate and Development Ministerial (C&DM) was held in Baku as part of the second day of the UN Preliminary Conference of Parties on Climate Change (Pre-COP29). The panel session brought together ministers of ecology and environment from various countries to discuss priority issues affecting climate-vulnerable nations.

Through the Climate and Development Ministerial, parties aimed to make decisions that address the priority needs of least developed countries and small island states, ensuring that actions in response to their requests are integrated into global discussions on climate finance, Caliber.Az correspondent reports from the scene.

At the beginning of the meeting, COP29 President-Designate Mukhtar Babayev highlighted the most pressing issues, stating that even if we succeed in limiting global warming to 1.5 degrees, we must still tackle the serious impacts of climate change around the world.

“According to data from the World Meteorological Organization, the cost of adaptation in sub-Saharan Africa is estimated to reach up to $50 billion per year over the next decade. However, there remain significant gaps in financing and implementation for adaptation,” he noted.

Babayev explained that the COP29 presidency has a plan to enhance ambition and enable action this year, aiming for critical progress across all pillars of the Paris Agreement, with climate finance at its core.

“First, we need to enhance ambition in climate plans to limit warming and manage the impacts of climate change. We are calling on all parties to have national adaptation plans in place," he remarked. 

He also highlighted Azerbaijan's call for the Green Climate Fund to expedite support for countries to establish and implement these plans. 

“Once put in place, national adaptation plans (NAPs) can play an important role in guiding investment,” he added.

He further emphasized that we must establish the means for implementation and seek to scale up climate finance from all sources. “We need to significantly increase the availability of financing for both mitigation and adaptation. Our top negotiated priority is a fair and ambitious framework that meets the scale and urgency of climate change. We also continue to advocate for increased contributions to the Green Climate Fund for adaptation, recognising that not all adaptation funding can come from the public sector,” he stressed.

Babayev pointed out that currently, only 2% of adaptation funding comes from the private sector. “We are calling on private financial institutions to scale up their investment. Taking action today saves lives tomorrow,” he noted.

According to Una May Gordon, a representative of the International Institute for Environment and Development, the global community must focus intently on the issue of climate financing. She highlighted that greater efforts are necessary to translate the plans agreed upon in 2023 at COP28 in Dubai into tangible actions. "The next two years will be crucial for us in climate negotiations, especially in terms of emission reductions," she emphasized.

UK Minister for Climate Kerry McCarthy said that the effectiveness of climate action depends on the provision of financial resources.

She noted that many countries that need climate action the most don't have sufficient funds for it.

McCarthy highlighted that least developed countries (LDCs) and small island developing states (SIDS) will require between $29 billion and $41 billion annually this decade to adapt to climate change.

She stressed the urgent need for action in light of the escalating climate crisis, noting that effective financing is essential. Many individuals in these vulnerable regions struggle to access the necessary support for substantial interventions.

She pointed out that LDCs and SIDS, despite contributing minimally to climate change, are at the forefront of its impacts. However, they face considerable challenges in securing funding for innovative solutions and sustainable development.

Between 2017 and 2021, the average annual funding for adaptation in these nations was approximately $7 billion, revealing a significant gap in the financial support needed. This situation underscores the difficulties faced by climate-vulnerable countries in obtaining adequate funding.

Jennifer Sara, the global director for the World Bank Group's Climate Change Global Practice, announced that the World Bank plans to allocate 45% of its annual funding to combat climate change this year.

"Regarding calls for reforming the international financial architecture, the World Bank is contributing to this cause. We have a more stringent balance; we provide more and better financing, and in 2023 we allocated a record $42.6 billion for climate program financing," Sara stated.

She explained that at the 28th COP session in Dubai last year, the World Bank unveiled its ambitious plan, which is being implemented in the current fiscal year. 

"We will distribute this funding equally—for climate change mitigation and adaptation," she added.

Francesco Corvaro, Italy's special envoy for climate action stressed the importance of supporting developing countries, particularly African states, in creating a sustainable future.

Corvaro emphasized that steps must be taken towards eliminating land degradation in the African continent. 

A concrete plan has been adopted on the topic of land degradation: "The connection between this issue and migration has been investigated. Italy is studying the problem of human influx resulting from climate impacts. We are the first European country to seriously raise this issue."

“We must build possibility connected with capability. Italy knows it is not easy and it is not only about finance. If we want to build a sustainable future, we must consult not only for our own country but also for other countries," he added. 

On Ireland’s efforts to combat climate change, Eamon Ryan, Ireland's Minister for the Environment, Climate, Communications and Transport, revealed that the country has doubled its climate financing over the past three years, with 80% of those funds dedicated to adaptation measures.

He stressed the urgent need for hope as climate change increasingly impacts communities worldwide. 

“It is crucial for the global community to see that the parties are capable of negotiating and that the negotiations are successful,” Ryan noted.

He further emphasised the necessity of reaching agreements on financing, transparency, and new carbon markets. 

“This year in Baku, we need to agree on financing. Climate financing will be a key issue at COP29,” he said. He highlighted that the outcomes of COP29 will influence negotiations during COP30 in Belem next year.

Notably, the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) is set to be held in Azerbaijan this November, a decision made during the COP28 plenary session in Dubai on December 11, 2023.

For two weeks, Baku will transform into a global hub, welcoming approximately 70,000 to 80,000 international delegates. The United Nations Framework Convention on Climate Change (UNFCCC), which aims to prevent dangerous human interference with the climate system, was established at the Earth Summit in Rio de Janeiro in June 1992.

By Aghakazim Guliyev