As delegates from around 200 countries gather in Baku, Azerbaijan, for the commencement of COP29, Rwanda has made a compelling call for a new global climate finance goal. The country’s Ministry of Environment announced on Monday that Rwanda is advocating for a finance target that not only supports mitigation and adaptation efforts but also includes significant backing for loss and damage.
“This call is critical for ensuring that countries most affected by climate impacts receive consistent support to recover and build stronger communities,” the ministry stated. “At COP29, loss and damage is a priority for Rwanda, highlighting the need for sustained funding to assist communities facing the devastating effects of climate disasters.”
Rwanda’s position underscores the urgency felt by many developing nations on the front lines of climate change. The East African nation is emphasizing the need for investments in long-term solutions that empower vulnerable countries to adapt and build resilience against the changing climate.
The ministry further highlighted Rwanda’s commitment to transparency in climate commitments. “Rwanda’s delegation will also champion the value of transparency in climate commitments, advocating for clear and accurate information on the support exchanged between nations to build trust and accountability,” it said.
The two-week COP29 meeting brings together government officials, civil society representatives, and private sector leaders to accelerate global efforts in addressing the climate crisis. A key focus of this year’s conference is to establish a new climate finance goal that will replace the existing target of mobilizing $100 billion annually from developed countries to support developing nations.
Rwandan President Paul Kagame has recently stressed the importance of increased funding from wealthier nations to tackle climate change. He emphasized that the terms of such funding must be favorable and should not burden developing countries with additional debt.
As the climate crisis intensifies, Rwanda’s call resonates with many nations seeking equitable solutions and meaningful support from the global community. The outcomes of COP29 will be closely watched by stakeholders worldwide, as they could shape the future of international climate finance and cooperation.
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Rwanda urges new climate finance global goal as COP29 begins
cgtn.com
