Baku, Azerbaijan.
One of the key messages of the UN Secretary-General was for Finance to be the priority over the World: 23 November 2024
UN Secretary-General António Guterres stated, that developing countries swamped by debt, and left behind in the renewable revolution, are in desperate need of funds.
An agreement at COP29 was essential to keep the 1.5-degree limit alive, and countries have delivered. “I had hoped for a more ambitious outcome – on both finance and mitigation – to meet the great challenge we face”, added António Guterres
Order from the COP 29
António Guterres highlighted two key issues
First, countries must deliver new economy-wide national climate action plans – or NDCs – aligned with 1.5 degrees, well ahead of COP30 – as promised. The G20 countries, the biggest emitters, must lead.
These new plans must cover all emissions and the whole economy, accelerate fossil fuel phase-out, and contribute to the energy transition goals agreed at COP28 – seizing the benefits of cheap, clean renewables.
Second, we need swift action to deliver on commitments made in the Pact for the Future. Particularly on effective action on debt; increasing concessional finance and improving access; and substantially increasing the lending capacity of the Multilateral Development Banks, with adequate recapitalization.
I am grateful to UNFCCC Executive Secretary Simon Stiell and his colleagues for their superb support – and of course the United Nations team.
