Brazil optimistic about outcomes from COP29 in Baku

Brazil anticipates positive results from the upcoming COP29 climate conference in Baku, as expressed by Alexandre Silveira, the country's Minister of Mines and Energy.

He shared these expectations during a panel session at the UN Pre-Conference of Parties on Climate Change 2024 (Pre-COP29) held in Baku on October 10, Caliber.Az reports via local media.

Silveira noted that many people currently focus on the limitations of multilateralism, stressing the importance of strengthening it in the context of the conference. He highlighted the significance of the consensus achieved during COP28 in the UAE and expressed hopes for a similar outcome in Baku. “Brazil can be counted on to enhance multilateralism,” he stated, underscoring that addressing climate change goals necessitates international cooperation.

Singapore's Minister for Sustainable Development and Environment, Grace Fu Hai Yen, echoed this sentiment during the opening of Pre-COP29, emphasizing the vital role of international collaboration in tackling climate change. She mentioned that Singapore has signed carbon development agreements with several countries, acknowledging the risks associated with these projects while also appreciating their potential benefits.

Additionally, Fu highlighted the need for innovative financing in decarbonization efforts, advocating for greater involvement of private companies in these initiatives.

Scheduled for November, COP29 will be held in Baku following a decision made during the COP28 plenary in Dubai on December 11, 2023. The conference is expected to attract between 70,000 to 80,000 international participants over a two-week period.

Founded at the 1992 Earth Summit in Rio de Janeiro, the UN Framework Convention on Climate Change (UNFCCC) aims to address the adverse effects of human activity on the climate. The Conference of the Parties (COP), comprising 198 member states, serves as the decision-making body for the convention and has convened annually since its first meeting in Berlin in 1995. The UNFCCC secretariat is located in Bonn.

As the global community prepares for COP29, the emphasis remains on collaborative strategies to address the urgent climate crisis, showcasing the essential role of human capital in fostering sustainable development and resilience.

By Tamilla Hasanova