The COP29 Presidency prioritizes preserving the process of the Conference of the Parties (COP) rather than emphasizing improvements to its efficiency or effectiveness, stated Azerbaijan's Deputy Foreign Minister and Lead Negotiator of COP29, Yalchin Rafiyev, Report informs.
He made the remark during the Simulation Conference of the Parties to the UN Framework Convention on Climate Change, held in Khankandi on April 26.
Rafiyev emphasized the importance of maintaining the integrity and heritage of the process, especially in the face of external challenges.
He also addressed key issues faced during COP29 and outlined its achievements. Discussing financial aspects, Rafiyev pointed out the division between developed and developing nations:
"Finance plays a critical role in climate negotiations and the global climate community. Without sufficient funding, achieving climate goals, reducing emissions, adapting to climate changes, and modernizing infrastructure remain unattainable. Therefore, COP29 was expected to deliver specific financial commitments for developing countries."
The deputy minister noted that, prior to COP29, developed nations had pledged $100 billion annually to support developing countries in addressing climate change—a commitment made at the Copenhagen COP in 2009.
At the Baku COP, participants agreed to increase this figure significantly. By 2035, the allocated funds are expected to rise to at least $300 billion. Rafiyev stressed that this amount represents contributions exclusively from government sources, marking a critical milestone for climate financing.
