COP29 president calls for green investments at Copenhagen Climate Ministerial Photo

COP29 President Mukhtar Babayev has emphasised the importance of national climate plans as he addressed the opening plenary of the Copenhagen Climate Ministerial.

In his remarks on the X page of COP29, Babayev emphasised the pivotal role these national strategies will play in steering global climate action over the coming decade, Caliber.Az reports.

He also pointed to the significance of green investments, which were agreed upon during the COP29 summit in Baku.

“COP29 President Mukhtar Babayev today addressed the opening plenary at the Copenhagen Climate Ministerial. In his remarks, the COP29 President emphasised the importance of national climate plans in guiding the next decade of climate action, and showing a green light to the green investment agreed at COP29 in Baku,” the statement reads.

As a reminder, the 29th UN Climate Change Conference of the Parties (COP29), held in Baku, Azerbaijan, in November 2024, marked a pivotal moment in global climate diplomacy, delivering several significant outcomes.

A central achievement was the adoption of a $300 billion annual climate finance goal by 2035, intended to support developing nations. 

Another landmark decision was the finalization of the Paris Agreement's Article 6.4 rules, establishing a UN-backed global carbon market. This development is expected to enhance transparency and standardization in carbon credit trading, potentially influencing future climate legislation.

While COP29 achieved notable milestones in climate finance and carbon market mechanisms, it also highlighted ongoing challenges in achieving a comprehensive global consensus on climate action.

By Aghakazim Guliyev