Baku, November 13, 2024 – The Europe Today: President Sadyr Japarov of Kyrgyzstan addressed the High-Level Meeting on Climate Finance, organized by Pakistan as part of the 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change. In his remarks, President Japarov highlighted the critical importance of climate finance in mitigating the impacts of global climate change, which poses a significant threat to sustainable development worldwide.
Stressing the importance of adequate financing, President Japarov warned that many climate-related projects risk stalling without sufficient financial resources. He called for careful consideration of these needs in establishing the New Collective Quantitative Goal for Climate Finance, a mechanism intended to support global climate initiatives.
Japarov emphasized that international climate finance should be allocated based on countries’ emission levels and economic development status, urging that states with higher responsibilities for global emissions provide greater support to vulnerable, developing nations.
The President also pointed out the complexities and bureaucratic challenges of accessing climate finance, which hinder the effective allocation of resources. He advocated for a more prominent role for the private sector in mobilizing climate funds, highlighting its potential to drive economic transitions toward greener and more sustainable growth.
President Japarov proposed the development of innovative mechanisms and investment tools to attract additional funding for adaptation and mitigation projects. He voiced strong support for the prompt establishment of the Loss and Damage Fund, emphasizing the need to protect and address the unique challenges faced by all nations, particularly those of mountainous developing regions.
The meeting featured discussions on enhancing the global response to climate change, with a particular focus on climate finance strategies to benefit vulnerable communities and advance climate resilience.
