Overview:
The Minister made the remarks while co-chairing the 6th high level ministerial dialogue on Climate Finance at the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) in Baku,Azerbaijan.
State Minister for Finance (Planning) has called upon Ministers and Heads of Delegations from both developed and developing countries to reaffirm their commitment to equitable climate action, uphold transparency, and foster solidarity in fulfilling this critical financial promise.
The Minister made the remarks while co-chairing the 6th high level ministerial dialogue on Climate Finance at the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) in Baku,Azerbaijan.
“We gather at a pivotal moment in our shared climate journey, where the urgency to meet the long-standing commitment to mobilize USD 100 billion annually has never been more pressing,” said Lugoloobi.
He added that this dialogue is not just a moment of reflection on past achievements and challenges; but a call to action.
He said they must all collectively evaluate progress and renew their commitment to support developing nations, and set the stage for more robust and predictable financial strategies that align with ambitious climate goals. The recent report by the Standing Committee on Finance is guiding these discussions, as they look for sustainable, inclusive, and transparent climate finance solutions
Lugoloobi also congratulated Azerbaijan for assuming the COP Presidency and organizing this event.