Time is running out for effective action against the climate crisis and addressing its consequences, Luxembourg's Minister of Environment, Climate and Biodiversity Serge Wilmes said at a high-level meeting during COP29, Report informs.
"The global stocktake of COP28 was the upshot of a major effort. It now needs to be turned into concrete actions in the nationally determined contributions updated prior to the COP30. In the meantime, it's important that the decisions adopted in Baku reflect clearly the follow-up the world community intends to provide to the global stocktake alongside mitigation.
It's obvious that the new collective quantitative quantified goal will be a decisive element for the COP 29 legacy of 220 million euros apportioned over five years between 2021 and 25. Luxembourg is already a major contributor to international climate finance. In this context, I am proud to announce that the Luxembourg government has just decided to increase by 100 million euros this envelope for the next five-year cycle with 320 million euros apportioned between 2026 and 2030," he noted.
Wilmes emphasized that solidarity and ambition are key words not only at COP29 but throughout the entire period of climate action.
The minister also expressed gratitude to Azerbaijan for the high-level organization of the climate conference.