Deputy Foreign Minister of Azerbaijan Yalchin Rafiyev has spoken about the implementation of the decisions adopted during the COP29 conference held in Baku.
In an interview with APA, Yalchin Rafiyev said that one of the most important decisions adopted at COP29 was the Baku Climate Finance Goal, which envisaged providing $300 billion annually in climate finance.
"This was a significant achievement at the time. However, implementing this decision is even more important. The processes we are observing regarding implementation show that changes in the geopolitical landscape, the increase in military security spending by some states, and the redirection of budget expenditures intended for climate-related purposes toward national security and defense mean that, for now, there is no optimistic picture regarding the achievement of this goal.
"When we speak of states that are not fulfilling their commitments, we mean the developed countries that, under the Paris Agreement, are expected to provide this funding. The budgetary changes taking place in those countries and the redirection of funds originally intended for climate-related purposes toward defense and security expenditures currently make it difficult to give an optimistic forecast in this regard."
Yalchin Rafiyev also stated that the amount of funding mobilized so far is not yet known: "We will be able to see that in the report to be published toward the end of this year. For now, there is no reliable source that we can refer to on this matter. This is reflected in the reports of the Organisation for Economic Co-operation and Development, and we are expecting that report to be published at the end of the year."
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
