Urgent Call to Action at COP29: Commit to the Paris Agreement

At COP29 in Baku, Finance Minister Professor Biman Prasad called for a renewed commitment to the Paris Agreement, stressing the need for solid financial strategies to implement nationally determined contributions (NDCs). He argued for a collective goal to ensure dedication towards limiting global temperature rise to 1.5 degrees Celsius, highlighting that failure to act could yield disastrous consequences.

At the COP29 summit in Baku, Azerbaijan, Finance Minister Professor Biman Prasad urged participating nations to reinforce their commitment to the Paris Agreement. He emphasized that without establishing robust financial frameworks necessary for the implementation of nationally determined contributions (NDCs), the global climate goals would be jeopardized. Prasad highlighted the critical importance of limiting global temperature rise to 1.5 degrees Celsius, labeling it as an essential scientific target rather than mere rhetoric.

Professor Prasad called for a new collective quantified goal to be established at the conference, asserting that this would measure the global commitment to averting climate change’s dire consequences. He warned that failure to prioritize the necessary financial resources, projected to be $1.3 trillion, could result in catastrophic losses over the next decade. The call to action emphasized the urgent need for collaborative effort and clear leadership amidst political uncertainties to mitigate the risks of a significant temperature rise.

The Paris Agreement, established within the United Nations Framework Convention on Climate Change (UNFCCC), aims to combat climate change and intensify efforts to restrict global temperature rise. Each participating country delineates their environmental goals through nationally determined contributions (NDCs). The COP29 summit serves as a platform for global leaders to assess progress and reinforce commitments toward these goals, especially in light of the ongoing climate crisis that threatens vulnerable nations, particularly small island developing states (SIDS) and least developed countries (LDCs).

In conclusion, Professor Biman Prasad’s address at COP29 underscores the urgency with which world leaders must act to fulfill their obligations under the Paris Agreement. By establishing concrete financial foundations for implementing NDCs, the global community can better ensure the survival of vulnerable populations and strive toward the crucial target of limiting temperature increases to 1.5 degrees Celsius. The coming years will be pivotal in determining the efficacy of these commitments and the overall success of international climate policy efforts.

Original Source: www.fijitimes.com.fj