COP29: The Global Climate Summit's Critical Moment

At the COP29 climate talks in Azerbaijan's Baku, the world aims to bridge gaps in climate action and finance. Commonwealth Secretary-General Patricia Scotland emphasized the need for fossil-fuel producers to be allies in climate efforts. The conference aims to address unmet financial commitments and foster global collaboration.

The COP29 climate talks in Baku, Azerbaijan, are seen as a crucial opportunity to bridge gaps in climate action and finance, according to Commonwealth Secretary-General Patricia Scotland. Speaking via Zoom to PTI, Scotland stressed the importance of transforming fossil-fuel producers into allies in the fight against climate change.

Despite the host country Azerbaijan being a major oil and gas exporter, Scotland believes COP29 is a pivotal moment to achieve consensus on financial goals. She highlighted the unmet promise of USD 100 billion annually from developed nations to assist developing countries in tackling climate change. This year's summit also aims to finalize the New Collective Quantified Goal (NCQG) for climate finance starting in 2025.

Scotland further emphasized the need for improved, faster climate fund approval processes, especially for the Least Developed Countries (LDCs). She noted the Commonwealth's use of artificial intelligence and geospatial data to expedite funding for climate projects, such as securing USD 5.7 million for Fiji within a year. More targeted solutions like methane reduction should also be scaled up, she added.

(With inputs from agencies.)