"The urban population is expected to increase by more than 500 million over the next 5-7 years, which in turn will put greater pressure on urban infrastructure, including electricity and water supply, transport, sewage systems, roads, and infrastructure in general," said COP29 President Mukhtar Babayev, who spoke at the high-level opening session on multi-level and multi-sectoral climate action at COP29, APA reports.
He said that urban centers, mainly transport, industry and buildings, account for more than 70% of global CO2 emissions.
By 2050, more than a billion people living in cities and settlements below sea level will face the risk of sea level rise. In this regard, cities and regions need tools, resources and empowerment to implement climate solutions tailored to their unique and specific contexts.
“Therefore, initiatives like the Baku-Urban Sustainability Coalition are so important, as they bring together different parties to increase cooperation. Urban climate finance is also a critical issue. Scrutinizing investments in urban infrastructure, energy-efficient buildings and sustainable transport systems requires innovative financing mechanisms and stronger partnerships. This is not only about addressing climate risks, but also about opening up opportunities for economic growth, creating jobs and improving the quality of life for urban residents,” added Mukhtar Babayev.
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