Oleg Bondarenko, the Chairman of the Committee on Environmental Policy and Nature Management of the Ukrainian Parliament (Verkhovna Rada), has commended the outcomes of COP29, held in Baku.
In an exclusive statement to Report, the chairman emphasized, "One of the most crucial decisions made at the conference was setting a new climate target, which includes supporting the Nationally Determined Contributions (NDCs) and implementing the National Adaptation Plans. Additionally, it involves raising $300 billion annually for developing countries by 2035, provided that ambitions to combat climate change are increased."
Bondarenko added that several significant resolutions were adopted at the conference, including the global goal of adaptation, the creation of new market mechanisms under Article 6 of the Paris Agreement, and the development of a work program to reduce greenhouse gas emissions in agriculture.
He added that Ukraine welcomes these decisions: "Despite Russia's full-scale invasion of Ukraine, we are ready to make a commitment to achieve climate neutrality by 2050."
The chairman also mentioned that for Ukraine, the decisions made at COP29 represent an opportunity to secure funding for the implementation of its climate plans and projects, as well as to obtain financing from international financial institutions for green energy, green recovery, and adaptation to climate change. "This also includes attracting investments under Article 6 of the Paris Agreement," Bondarenko noted.
The committee chair reiterated his gratitude to Azerbaijan for hosting and organizing COP29 at the highest level and for its continued long-term support for Ukraine.