The new collective quantitative target is the main expected outcome of the COP29 climate conference, Bulgarian President Rumen Radev said during his speech at the Leaders' Summit, APA reports.
According to him, the new goal is to ensure the financing of climate measures from all possible sources, including the private sector.
"Only if there are sufficient financial resources, it will be possible to provide funding for measures to mitigate the consequences of climate change and to adapt to new realities. The main focus should be on the needs of countries that are more sensitive to climate change. At the same time, we must continue to actively fight the impacts of the climate crisis and stay committed to the decarbonization of global energy systems," Radev said.
Emphasizing the importance of applying modern technologies, increasing energy efficiency, and modernizing energy infrastructure, the President of Bulgaria noted that energy security should remain the main priority.
"Bulgarian is not only committed to participating in regional initiatives on energy cooperation. We will strengthen relations between the EU and other countries that share our priorities in the fields of climate neutrality, fair energy transition, energy security, etc.," he added.
Radev also thanked Azerbaijan for hosting COP29 and described the conference as a significant event in a period marked by political challenges, security threats, and the intensifying climate crisis.
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