Today's Edition
BAKU (WAM)
President Ilham Aliyev of Azerbaijan welcomed President His Highness Sheikh Mohamed bin Zayed Al Nahyan at the beginning of his speech during the opening ceremony of the World Leaders Climate Action Summit at COP29.
He congratulated His Highness on the historic "UAE Consensus" during COP28 and praised the UAE's supportive efforts in hosting COP29.
In his speech, Aliyev said that the organisation of COP29 in Baku reflects his country's appreciation of multilateralism and cross-culturalism, noting that more than 72,000 participants from more than 196 countries have registered to attend COP29.
He added that his country, as COP29 President, seeks to create consensus between developing and developed countries and establish South-North relations, noting that the mega projects initiated by Azerbaijan have changed the energy and transport routes in Eurasia.
He explained that his country pays great attention to export markets and endeavours with its partners to implement other important energy security projects, noting that one of them is the supply of energy through the bottom of the Black Sea.
In his speech, UN Secretary-General António Guterres said that at COP28, held in the UAE last year, parties agreed to transition to an energy system free from conventional fuels that do not reduce emissions and to accelerate the use of zero-emission energy systems.
He stated that they have agreed to outline the pathway for improved climate adaptation, aligning it with the next round of nationally determined contributions and comprehensive national climate plans to maintain the 1.5°C target. "Now is the time to deliver on commitments," he emphasised.
He added that the economic necessity is becoming more clear and urgent with each innovation in renewable energy use and price reduction. He described solar and wind energies as the most affordable sources of new electricity.
He said that no group, company or government can stop the clean energy revolution, but everyone must work to ensure that the transition is fair and swift in a way that can limit the global temperature rise to meet the 1.5°C target.
He emphasised that to achieve this goal the pace of global emissions reductions must reach nine per cent per year, and by 2030, reach 43 per cent below 2019 levels.
At this COP, it must be agreed to set rules for fair and efficient carbon markets that respect the rights of local communities and leave no room for land grabs by the next COP, he said. “New national climate action plans must be introduced at the economy-wide level.”
He spoke about the need to align national energy transition strategies and sustainable development priorities with climate action to attract the necessary investment. He said that this should be achieved in line with shared responsibilities, taking into account different national circumstances and capabilities.
He said the gap between adaptation needs and funding could reach $359 billion per year by 2030, which could significantly lead to people losing their lives, livelihoods and development opportunities, so funding promises must be fulfilled. He stressed that developed countries must double adaptation funding by at least $40 billion per year by 2025.
He emphasised the need for new climate action plans for countries to identify adaptation financing needs and for disaster warning systems that can protect everyone by 2027, in line with the UN's "Early Warnings for All" initiative.
