COP29 looks at G20 outcome to get a breakthrough on climate finance
BAKU: With no much headway on the critical issue of climate finance at UN climate talks COP29 here, negotiators of 198 countries appear to be looking at any big signal from the G20 summit in Brazil’s Rio de Janeiro, where heads of state/government of rich nations and emerging economies are brainstorming on multiple issues, including climate and renewable energy.
«We urge them to use the G20 meeting to send a positive signal of their commitment to address the climate crisis. We want them to provide clear mandates to deliver at COP29,» said COP29 president Mukhtar Babayev.
At a press conference, he did not mince words while speaking on how important the G20 was for the success of COP29 when the big stake issue of climate finance continues to elude the convergence point among rich and developing countries. «We cannot succeed without them (G20 nations), and the world is waiting to hear from them… They account for 85% of global GDP and 80% of emissions,» said Babayev.
He, at the same time, expressed confidence that there is a “very good chance” for the G20 to put the issue high on the agenda.
In what could be a hint that the COP29 outcome on climate finance would be possible only after a bit of compromise from all sides, Babayev said, “The highest possible level of ambition is indeed difficult. It requires courage.Now it is the time to be brave.”
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