Ashly DhaniClimate financing will be the focus of the upcoming United Nations Climate Change Conference (COP29), according to the summit’s chief executive Elnur Soltanov.
With three months to go until the event kicks off in Baku, Soltanov emphasized that the primary goal of the COP29 Presidency is to establish a clear and ambitious “New Collective Quantified Goal” (NCQG) for climate financing, addressing the needs of all parties.
The NCQG was agreed upon in 2015 but needs to be defined by 2025 to supporting the poorest countries in their climate change efforts.
The last preparatory meeting for COP29 in Baku, held in June in Bonn, Germany, ended with “modest” progress and warnings of potential “failure” in financing from UN Climate Change Executive Secretary Simon Stiell.
Despite that, Soltanov stressed the importance of advancing “collectively on all pillars of the Paris Agreement,” with climate financing being central.
Soltanov’s strategy includes seeking “political direction” to resolve disagreements and accelerate summit preparations through meetings among the parties.
The executive director’s strategy is to seek “a political direction” to bridge disagreements and accelerate summit preparations through meetings among the parties.
“We must focus on high-level discussions and intensify political engagement. We appreciate the time and commitment of our new ministerial peers in the NCQG to support us,” Soltanov told EFE in an interview.
Inclusive Just Transition Azerbaijan, like the United Arab Emirates, which hosted COP28, is an oil and gas producer. The choice of venue has again drawn criticism from several climate organisations.
Soltanov argued for an inclusive process where all parties collaborate.
“We do not believe anyone, especially global energy experts, should be excluded.”
He referenced the UAE consensus from COP28, which emphasised the need for a just and orderly transition.
“All countries start from different points, and the requirements to decarbonise, build a renewable system, and ensure a just transition will differ according to national circumstances.”
Soltanov noted that the Intergovernmental Panel on Climate Change (IPCC) recognizes a role for hydrocarbons in the global economy in its temperature and zero-carbon emissions calculations.
A litmus test for
global cooperation
Optimistic about COP29, which runs from November 11 to 22, Soltanov views it as a litmus test for global cooperation and climate action. Azerbaijan, he said, “will spare no effort to unite the parties”.
Azerbaijan is committed to hosting COP29 inclusively and transparently, aligned with the Convention and the Paris Agreement. “Our vision for COP29 is to fulfil promises and achieve results to keep the IPCC’s 1,5°C target within reach,” he said.
To advance this commitment, Azerbaijan will present two documents before COP29: a Transparency Report and the “Nationally Determined Contribution” (NDC), aligning
the country with efforts to curb climate change.
“Azerbaijan is committed to transparent and inclusive climate action, balancing the green transition with economic stability.
“We are fostering green industries to diversify our economy while ensuring growth and stability,” said Soltanov, a former Deputy Minister of Energy.
He emphasised the need for shared and ambitious efforts, warning that “the margin for action is shrinking.”
“There is still time to address the climate crisis effectively with immediate and sustained efforts. We need everyone to commit in good faith to act quickly.” — EFE.com
Bongani Ndlovu