Rumen Radev: New collective quantitative target main expected outcome of COP29

The new collective quantitative goal is the main expected outcome of the COP29 Climate Conference in Baku, Bulgarian President Rumen Radev said at the COP29 leaders' summit, Report informs.

He noted that the new goal aims to ensure climate action funding from all possible sources, including the private sector.

"Only with sufficient funding will it be possible to meet the financing needs for climate change mitigation and adaptation to new realities. The main focus should be on the needs of countries most vulnerable to climate change. At the same time, we must actively continue to counter the effects of the climate crisis and stick to the path of decarbonizing global energy systems," said Radev.

Radev emphasized the importance of implementing modern technologies, improving energy efficiency, and modernizing energy infrastructure. He stressed that energy security must remain a top priority.

"Bulgaria intends to participate not only in regional energy cooperation initiatives. We will strengthen ties between the EU and other countries that share our priorities in climate neutrality, fair energy transition, energy security, etc.," he added.

Rumen Radev also thanked Azerbaijan for organizing COP29, calling this conference a significant event during a period of political challenges, security threats, and worsening climate crisis.