Written by 01:15 News, Saudi Arabia

Developing Nations Call For Action on the Climate Finance Pact at COP29

Developing Nations Call For Action on the Climate Finance Pact at COP29

RIYADH: A top Thai official told the UN climate change summit in Baku that the current measures to control the rising global temperature are insufficient. Chalermchai Sri-on, the Asian nation’s Minister of Natural Resources and the Environment, asked for climate finance decisions to be taken in order to assist the countries most impacted by warming temperatures during his speech at COP29 in Azerbaijan.

Other ministers echoed his remarks during the morning session, which took place a day after Simon Stiel, the UN’s climate director, urged world leaders to “cut the theatrics and get down to business” in order to reach an agreement on money for developing nations. “The first global stocktake significantly showed that our current efforts are still insufficient to control global temperature increase,” Sri-on said in his address to delegates.

Nik Nazmi Nik Ahmad, Malaysia’s Minister of Natural Resources and Environmental Sustainability, called on wealthy countries to meet their financial obligations while making sure that the money is “accessible and impactful.” “Failure is not an option for anyone,” said Costel Alexe, Romania’s Environment, Waters, and Forests Minister, who urged that action take precedence over political disagreements.

He also underlined Romania’s emphasis on private-sector collaborations for industry, transportation, and energy decarbonization. “Our countries are suffering the impacts of climate change, due largely to the historical emissions of developed countries,” said Diego Pacheco of Bolivia, highlighting the responsibility of developed nations.

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