Long Way To Agree on New Climate Finance Package For Developing Nations: COP29 President

Baku: Azerbaijan, hosting this year's UN climate conference, on Monday said that countries still have a long way to agree on a new climate finance package to support developing nations in reducing emissions and apting to climate change.

At a press conference, COP29 President Mukhtar Babayev expressed concern over slow progress in resolving key issues.

He urged ministers to take responsibility and act swiftly.

"re is still a long way to go on New Collective Quantified Goal (NCQG). Politicians must engage immediately and constructively," Babayev said.

With ministers arriving in Baku, Babayev stressed need for collaboration to dress critical issues like structure of NCQG, amount of funding, and question of who should contribute.

He also said that leership from G20 hes of government, meeting this week in Rio de Janeiro, Brazil, is "essential for progress".

success of COP29 depends on ir commitment. I urge m to send a positive signal and provide a clear mandate for action, he said.

UN Climate Chief Simon Stiell also pushed for faster progress, especially on NCQG.

He called on countries to resolve less contentious issues early in week, leaving time to tackle most challenging topics.

"Ministers need to roll up ir sleeves and dive into difficult discussions," Stiell said. 

(Except for heline, this story has not been edited by Republic and is published from a syndicated feed.)