Switzerland wants to expand climate protection financing at new climate summit
Published: Sunday, Nov 10th 2024, 17:20
Updated At: Sunday, Nov 10th 2024, 16:30
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The 29th United Nations Climate Change Conference begins in Azerbaijan on Monday (tomorrow). At COP29, as it is abbreviated, the participating states are to adopt a new collective financial target for investments in global climate protection.
One of Switzerland's goals at the climate summit is to increase the number of donor countries investing in global climate protection.
All countries should contribute "according to their possibilities", especially "wealthy countries with high greenhouse gas emissions". This was announced by the Federal Office for the Environment (FOEN) ahead of the conference. Not only industrialized countries should pay, but also countries such as China or Saudi Arabia, the FOEN specified on request.
At the 2015 climate conference in Paris, it was agreed that industrialized countries would make 100 billion US dollars available annually for climate protection measures in developing countries by 2025. According to the FOEN, this target was reached for the first time in 2022. Switzerland mobilized over 700 million Swiss francs for climate financing in 2022.
The non-governmental organizations Alliance Sud and WWF recently called for 1000 billion dollars per year to be made available for climate protection in the countries of the South. Switzerland has not commented on this demand, as the FOEN said on request.
The states have yet to agree on the structure and level of the target as well as the sources of funding. There is also still disagreement as to which countries should be among the donors, said the FOEN.
Also determine market mechanism
In Baku, it is also planned to adopt rules for the implementation of a global market mechanism. As the Federal Council recently announced, this mechanism will allow countries to implement climate protection projects abroad and have the emission reductions achieved counted towards their climate target.
The countries' new climate targets for the period up to 2035 are also to be prepared. They must be submitted by 2025. According to the Federal Council, the central question here is how the countries will anchor the recommendations from last year's climate conference, namely the expansion of renewable energies and the move away from coal, oil and gas.
Federal Councillor Rösti travels to Baku
In the Azerbaijani capital of Baku, the Swiss negotiating delegation is led by environmental ambassador Felix Wertli, head of the FOEN's International Affairs Division. The delegation also includes representatives of civil society from business and environmental circles. Wertli had already led the Swiss delegation at last year's World Climate Conference, which took place in Dubai.
Federal Councillor Albert Rösti intends to attend COP29 in the second week of the conference, as has been known since September. The conference is scheduled to last until November 22.
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