Belgian official stresses crucial financial blend for COP29 success

Ulrich Lenarts, Deputy Director for Environment, Climate Policy, and Cooperation at the Belgian Federal State Service for Foreign Affairs, Foreign Trade, and Development, addressed ADA University during the "Opportunities and Challenges for Climate Action: European and Regional Perspective" event, Azernews reports.

He commended Azerbaijan's COP29 team for their earnest commitment to combating climate change.

"We held a ministerial meeting in March, and it's evident how seriously the COP29 team approaches their preparations in this regard. This involves not only the Azerbaijani government's readiness but also preparing all countries to meet new climate goals. Secondly, addressing the financial aspect is crucial. The required funding necessitates a blend of public and private financing, tapping into both international and domestic resources. We must consider the dynamic and expanding nature of opportunities at this juncture," he emphasised.

Veronika Baghi, head of the Hungarian delegation at the UN Framework Convention on Climate Change, underscored the significance of hosting COP29 in Azerbaijan, highlighting its importance for the entire region.

"Hungary and Azerbaijan belong to the same regional group, Eastern Europe. The negotiation process was complex due to the geopolitical situation and tensions in the region. This event isn't just about the venue; it's about setting the general agenda and drawing attention to the region and the country. Hence, it holds immense importance for both the country and the region," she stated.

Baghi also emphasised that the "troika" will play an important role in the fight against climate change.

Bagi recalled that during the COP28 held in Dubai, Armenia agreed to hold the next conference in Azerbaijan, and this was a significant event: "All this suggests that even countries with very distinct experiences and tense relations can come together and reach a common agreement."

Asad Shirinov, Advisor to the Chairman of the Azerbaijan State Water Resources Agency, described COP29 as a significant milestone in Azerbaijan's global reputation.

"This event marks our transition to the green economy and showcases Azerbaijan's respect and prestige on the international stage. A key aspect of COP is updating legislation to align with international agreements. Azerbaijan consistently prioritises climate change, sustainable development, and ecology, achieving notable results in COP events annually," he noted.

Shirinov highlighted Azerbaijan's initiatives during COP28, fostering knowledge exchange and cooperation on climate change's impact on water resources, alternative water source utilisation, and seawater desalination. These initiatives facilitated regional and global cooperation, fostering the sharing of best practices and technologies among stakeholders.