"I am grateful to Azerbaijan, the chair of COP29, for making financing a priority of the climate conference," Zou Ciyong, deputy director general and managing director of the Directorate of Technical Cooperation and Sustainable Industrial Development at UNIDO, told Report.
"For many years, we have been discussing the issue of financing climate change mitigation and adaptation measures, but unfortunately, there is still a large gap in this matter. Despite differences in views and interests, the international community must work together to support diplomacy, and reach a consensus on climate change financing, which, I think, aims to help particularly vulnerable countries and population groups truly adapt to the changing climate. So for us, the problem is not just in one or two countries or communities. In fact, this is a problem for all humanity. Therefore, I think we all should have a sense of responsibility. This plays its role," he said.
Zou Ciyong emphasized that when talking about financing, it's necessary to think about the least developed countries, to ensure assistance in fighting climate challenges.
"Now climate financing serves not only the public good but also the planet. We need to understand that if you invest earlier, you also gain a competitive advantage. And this also relates to the competitiveness of your industry, your economy. Additionally, we also need to support those who are falling behind, especially the least developed countries. They don't have access to financial technologies, and then they remain behind. I think they are most vulnerable to climate change. Thus, in addition to those countries that have resources they need to invest, I think it's also necessary to provide support to the least developed countries in adapting to climate change or transforming their economies in a sustainable way," he added.