Hungarian energy official: COP29 marks turning point since Paris Agreement

The Hungarian Ministry of Energy has hailed COP29 as the most consequential development in international climate diplomacy since the signing of the Paris Agreement in 2015, describing it as a "turning point" in the global transition toward sustainable energy and climate resilience.

Addressing the 30th anniversary Baku Energy Forum, Márk Alföldy-Boruss, Deputy State Secretary for Energy Policy at the Hungarian Ministry of Energy, underscored the significance of the outcomes achieved at COP29, particularly in relation to climate finance and implementation pathways, Caliber.Az reports via local media.

"We see COP29 as a turning point after the Paris Agreement. Now, with clearly defined targets and funding sources, we understand how to move forward to achieve them," Alföldy-Boruss stated.

He specifically highlighted the role of Article 6 of the Paris Agreement—focusing on international cooperation and market mechanisms—as a key enabler of effective climate finance. "Article 6 on climate finance is an important and effective tool for realising and financing green projects around the world," he said.

The Baku Energy Forum, celebrating three decades of dialogue and cooperation in the energy sector, brought together high-level representatives from governments, international organizations, and private industry to address the evolving challenges of the global energy transition.

By Vafa Guliyeva