British ambassador: COP29 funding must prioritise those most affected by climate change

British Ambassador to Azerbaijan, Fergus Auld, has stated that the United Kingdom's focus at COP29 is to ensure funding is directed towards those most affected by climate change.

"We want to make sure the funding is aimed at those who need it most—those who are most vulnerable, isolated, and suffering the worst impacts of climate change," Auld said, Caliber.Az reports per local media.

He also noted the large turnout at the event, highlighting the significance of the conference.

"On the second day of the conference, you can see just how crowded it is. Today marks the first day of the summit for world leaders. Our Prime Minister, Foreign Secretary, and Minister for Energy are all present," he added.

The Ambassador revealed that the UK has announced a new national climate commitment, which will be presented by the Prime Minister later today. Auld emphasised the UK’s commitment to COP29, underlining the importance of targeted financial support to address climate change's most pressing challenges.

Notably, at COP29 in Baku, the Climate Action Network International (CAN) has called for an annual climate financing target of $5 trillion. This statement, made during a press conference at the event, was backed by over 1,300 environmental NGOs. CAN’s Executive Director, Tasneem Essop, criticised the disparity in funding priorities, highlighting that while developed nations readily allocate funds for military operations, they claim a lack of resources for addressing climate change. She emphasised that these nations must invest in the Loss and Damage Fund and fulfil their climate obligations to the Global South.

Mohamed Adow, Director of Power Shift Africa, also addressed the imbalance in climate financing, stressing that wealthy nations have a responsibility to provide more funding to support developing countries’ green transitions.

COP29, which began on November 11 and runs until November 22, is one of Azerbaijan's largest and most prestigious events, with the official opening ceremony held at the Baku stadium. A key focus of the conference is the establishment of a new collective climate financing goal.

The Azerbaijan-hosted conference also prioritises green energy initiatives and the creation of a Climate Financing Action Fund, which aims to advance global climate action and support the 1.5°C climate commitment.

By Aghakazim Guliyev