Attila Steiner: 'We must achieve realistic result on NCQG'

COP29 should reaffirm countries' determination to accelerate the energy transition in accordance with agreements reached in Dubai last year, State Secretary of the Ministry of Energy of Hungary, which holds the EU presidency, Attila Steiner, said at a press conference on November 18 within COP29, Report informs.

He noted that the mentioned energy transition is possible: "The EU example also shows that while our union's economy continues to grow, we have managed to significantly reduce emissions. This transition is also necessary, and it concerns all parties at the negotiating table and stakeholders worldwide. Regarding the new collective quantitative goal for climate financing (NCQG), we need to increase the pace of our work during the second week of COP29, and I think ministerial participation will be crucial to achieve an ambitious yet realistic outcome."

He said that many pin their hopes on completing negotiations on Article 6 of the Paris Climate Agreement: "This will also help mobilize much-needed resources through market mechanisms while ensuring environmental and social integrity. We are also ready to continue working on indicators here in Baku. Thus, overall, we are committed to fighting climate change and ready to cooperate with all parties to achieve the successful outcome that the world expects from us. And we are here in Baku to accomplish this."