Baku pushes for increased climate aid at COP29 Amid growing global challenges

Ahead of COP29, Azerbaijan is spearheading efforts to boost financial support for developing countries.

Addressing the media seminar on effective communication strategies for COP29,  Yalcin Rafiyev, the Lead Negotiator for COP29 and Deputy Foreign Minister of Azerbaijan emphasized that Baku aims to persuade developed nations to enhance their contributions to the Loss and Damage Fund, which was originally set at $100 billion during the Copenhagen COP in 2009, Caliber.Az reports.

“With 15 years passed since that commitment, the world economy and the needs of developing countries have evolved significantly,” Rafiyev stated.

“Our goal for COP29 is to establish a new target for funding that reflects these changes and addresses the current global demands.”

Azerbaijan, the host country for this year’s COP29, has been actively engaging with other nations to prepare for the negotiations. Rafiyev revealed that discussions have already provided some clarity on the positions of various countries, aiding in the development of a consensus strategy.

He also highlighted the urgency of addressing climate change, which he described as a looming global catastrophe. Rafiyev stressed that COP29 presents a critical opportunity for countries to take substantial steps to mitigate this challenge.

The Conference of the Parties (COP), is held annually, with the Presidency rotating between the five recognised UN regions.

This year, Azerbaijan has been selected as the Presidency of the 29th Conference of the Parties (COP29), to be hosted in Baku this November. Azerbaijan has a strong track record of hosting international events and has chosen Baku Stadium as the venue for COP29.

To deliver a process that is transparent, impartial and inclusive, the COP29 Presidency has developed a plan based on two mutually reinforcing pillars to enhance ambition and enable action.