The implementation of Article 6 of the Paris Climate Agreement must be ensured through both bilateral and multilateral agreements, said Musalia Mudavadi, the Cabinet Secretary of Kenya, Report informs.
Mudavadi made the remark at the World Leaders' Presentation event on the negative impacts of climate change on water basins within the framework of COP29.
Secretary stressed that the climate disaster has caused severe damage to nature and infrastructure, emphasizing the urgent need for solidarity. "Combating climate change will only be possible when an agreement on financing is reached between the parties," he said. “The realization of global adaptation goals and the promotion of renewable energy sources are also crucial. Article 6 should be implemented on the basis of both bilateral and multilateral agreements.”
Mudavadi touched on the earlier talks about the implementation of financial mechanisms and highlighted that Kenya's position on the implementation of financial mechanisms remains unchanged.
He added that global transformation requires $4-$6 billion annually, with the greatest responsibility falling on major financial institutions. Mudavadi believes that implementing an early warning system will increase their potential and reduce harmful emissions.
Kenya is currently experiencing unprecedented heat waves. "Recently, our country has seen devastating floods that have claimed over 250 lives," Mudavadi revealed. He noted that Azerbaijan proposes solidarity on the issues discussed.
Under Article 6 of the Paris Agreement, parties recognize the importance of integrated, holistic, and balanced non-market approaches to assist in the implementation of their nationally determined contributions, in the context of sustainable development and poverty eradication.