Urgent Call for Emission Cuts and Adaptation Funding at Climate Summit.

COP29 climate agreement a boost for India's carbon market ambitions | India  News - Business Standard

Day Three at COP29: Highlights and Key Statements.

On day three of the COP29 UN Climate Summit in Baku, Azerbaijan, leaders and climate advocates continued to address critical climate issues, emphasizing the urgency of action and collaboration across nations. Major announcements were made, with calls for increased financing, commitment to emissions reductions, and a focus on vulnerable groups impacted by climate change.

The High Ambition Coalition (HAC), a coalition of countries united to drive ambitious climate action, released a strong statement today. It emphasized that the world has “little time” left to effectively tackle climate challenges, noting how climate-related costs in many countries are now surpassing what they can invest in prevention and mitigation. The HAC stressed the need for “trillions” in financial support to drive climate action, placing the responsibility squarely on developed nations to honor and enhance their existing funding promises.

The statement underscored three primary goals: significant cuts in global emissions, an accelerated shift from fossil fuels to renewable energy sources, and stronger adaptation strategies for communities already facing climate impacts. European leaders, including European Commission President Ursula von der Leyen, French President Emmanuel Macron, and German Chancellor Olaf Scholz, were among the signatories backing this push for increased funding and commitment to climate justice.

The HAC also emphasized that women and girls, who bear disproportionate impacts from the climate crisis, must be central to crafting and implementing climate solutions. The statement highlighted the concerning statistic that of the 78 world leaders attending COP29, only eight are women. It called for COP29 and future climate summits to respect and elevate the voices of diverse groups, including women, Indigenous communities, youth, and human rights defenders.

The coalition closed with a message of hope, asserting that the success of COP29 and subsequent climate conferences will be measured by the world’s ability to collectively advance these goals.

Italy’s Prime Minister Giorgia Meloni addressed the conference, emphasizing the shared responsibility among nations to meet ambitious energy targets set in Dubai the previous year. Those goals include tripling the production of renewable energy and doubling global energy efficiency by 2030. Meloni underscored that reaching these benchmarks will require active cooperation, particularly from the largest greenhouse gas emitters.

With projections indicating a global population of 8.5 billion by 2030 and a potential doubling of the global economy, Meloni acknowledged the likely increase in energy demand. She proposed that a mix of energy sources including gas, biofuels, hydrogen, and carbon capture technology will be essential for balancing energy needs with climate goals. Additionally, she mentioned nuclear fusion as a promising future energy source that could deliver clean and near-limitless power, though she acknowledged that practical deployment is still years away.

Meloni concluded her address by reflecting on the gravity of COP29, remarking that the conference’s success or failure rests on the actions taken by its participants. Speaking from a personal perspective, she shared her motivation as a parent, stating that her efforts today are driven by the desire to create a better world for her daughter’s generation, even if the direct benefits may not be felt in the present.

More From Author

Zhuhai Car Rampage Kills 35.

Israel’s Aid Access in Gaza Under Review.