Kerry McCarthy: Effective climate action depends on financial capacity

The effectiveness of climate action depends on the provision of financial resources, UK minister for climate in the department of energy security and net zero, Kerry McCarthy, said at the Climate and Development Ministerial (C&DM) on the second day of Pre-COP29 in Baku, Report informs.

She noted that many countries that need climate action the most don't have sufficient funds for it.

"These developing countries and small island states are among those who suffer the most from the consequences of climate change and at the same time bear the least responsibility for it," she added.

She noted that in 2017-2021, the volume of climate financing averaged only $7 billion per year.