UN climate chief calls for urgent action to capitalize on COP29 momentum

Simon Stiell, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC), has urged parties to the UN climate convention to capitalise on the momentum generated by the COP29 conference held in Baku.

Speaking during consultations under the chairmanship of the COP “Baku to Belém Roadmap to $1.3 trillion,” Stiell emphasized the critical need for concerted action amidst a challenging political and economic landscape, Caliber.Az reports via local media.

Acknowledging the efforts of the Azerbaijani and Brazilian presidencies in advancing the roadmap, Stiell described the initiative as “indeed the right way forward.” He highlighted that the receipt of 114 proposals from diverse parties and stakeholders reflected a widespread consensus on the urgency and magnitude of the climate crisis, transcending geographical and ideological divides.

“The stakes are high—we are talking about the future of climate action,” Stiell remarked. He underscored that climate finance should not be viewed as charity but as “the foundation of trust on which the whole system is built” and “an investment in global stability.” Central to this vision is the establishment of a practical and credible mechanism to mobilize at least $1.3 trillion annually in climate finance for developing countries by 2035.

Stiell stressed that while there may be differences in approach, there is a shared recognition of the imperative to collaborate. “This roadmap is so important because it can serve as a common reference point to guide policy and institutional efforts across the system,” he said, adding that it enables all actors—public and private, national and multilateral—to contribute effectively.

Calling for a shift from principles to concrete action, Stiell urged the adoption of pragmatic, high-impact solutions aimed at expanding public financing, particularly through grants and non-debt instruments, improving access to various climate funds by making procedures more accessible and efficient, and attracting private capital at scale. Additionally, he highlighted the necessity of addressing systemic barriers such as high capital costs, limited fiscal space, and institutional fragmentation.

“The call to triple disbursements from multilateral climate funds by 2030 must not go unheeded,” Steele warned, emphasizing that this ambition must translate into tangible results, especially with the imminent replenishment cycles of the Green Climate Fund (GCF), the Global Environment Facility (GEF), the Adaptation Fund, and the Loss and Damage Fund.

In closing, Stiell reiterated that successful implementation of the roadmap is paramount. “What matters most today is moving from commitments to concrete outcomes,” he said, urging all stakeholders to work collectively towards accelerating climate finance and enhancing global resilience.

By Vafa Guliyeva