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Environment Minister, Yasmin Fouad, and her Australian counterpart, Chris Bowen, have been authorized by the Azerbaijani presidency of COP29 to present the results of their consultations on establishing a New Collective Quantified Goal on Climate Finance. This significant development took place during their participation in the session of Azerbaijan’s presidency at COP29, held in Baku.
The session, part of the ministerial segment of the COP29 conference, focused on evaluating the leadership of bilateral ministerial teams addressing urgent climate issues. Fouad and Bowen’s role in facilitating these crucial discussions highlights their leadership in driving forward efforts to strengthen climate finance commitments as part of global climate action.
The outcome of these consultations is seen as a critical step towards enhancing climate financing mechanisms, with the aim of ensuring that developing countries receive the support needed to mitigate and adapt to the impacts of climate change. The New Collective Quantified Goal on Climate Finance is expected to play a pivotal role in achieving the ambitious climate targets outlined in the Paris Agreement.
As COP29 continues, the outcome of this collaboration will likely influence future negotiations and shape the global community’s response to the climate crisis.
