COP29 President Calls for Global Climate Unity

Ahead of COP29, Azerbaijan has been actively preparing to host the climate summit in November, with COP29 President Mukhtar Babayev emphasizing the need for global unity and cooperation on climate finance. Key initiatives have been launched, including the Baku Initiative on Climate Finance and commitments to enhance energy storage and renewable energy capacity. The summit aims to establish a new annual financing target to assist developing nations in addressing climate challenges. Over 534 financial institutions have signed a statement urging governments to elevate their climate ambitions and support legislative frameworks that promote sustainable investments. The discussions highlight the urgency for countries to find common ground and commitment to climate goals as they navigate the critical negotiations ahead. Babayev stresses that billions are counting on leaders to deliver substantial climate finance solutions.