Bank Of Baku

Türkiye's President expresses confidence that climate financing will be established at COP29

Türkiye
# 12 November 2024 16:00 (UTC +04:00)

"Ahead of COP29, we submitted our two-year transparency report and long-term climate strategy to the COP29 Secretariat," Recep Tayyip Erdoğan, President of the Republic of Türkiye, said at the World Leaders Climate Action Summit at COP29 in Baku, APA reports.

Erdoğan noted that the implementation of Climate Change Mitigation and Adaptation Strategy and Action Plans, covering 2024–2030, has commenced: “We increased the share of renewable energy in the energy sector to 59%. With this result, we rank 5th in Europe and 11th globally. Renewable energy and nuclear energy are our main focuses for our 2053 net-zero emissions target. Today, our wind and solar energy capacity stands at 31,000 MW, and we aim to increase it to 120,000 MW by 2035. For nuclear energy, our goal is to reach 20,000 MW by 2050. Within our Action Plan for 2024–2030, we forecast reducing emissions by an equivalent of 100 million tons of carbon dioxide.”

The Turkish President also emphasized the continued popularization of the locally produced electric vehicle, TOGG: “The Zero Waste initiative, started under the patronage of my wife Emine Erdoğan and now on a global scale, strengthens our fight against climate change. Since the project began, we have prevented 5.9 million tons of carbon emissions. We declared a mobilization for efficient use of water resources, and on National Afforestation Day, we plant millions of saplings. The economic cost of all this is very high. I believe that a climate financing structure will be established at this Summit to directly address the needs of developing countries, making our global fight even stronger.”

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