The countries have agreed on a new climate goal – $300 billion per year until 2035 for developing nations. The new climate finances will be allocated to support nationally determined contributions, national adaptation plans, and increasing ambition levels in the fight against climate change.
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SubscribeUkrainian Minister of Environmental Protection and Natural Resources, Svitlana Hrynchuk, reported this on her Facebook page.
“A package of decisions regarding Article 6 – market mechanisms of the Paris Agreement has been adopted. Work has continued on the agricultural work program, and a portal has been created for presenting new projects. Steps have been taken to develop issues related to the global adaptation goal. As for the Work Program on mitigation (risk reduction) – countries have developed elements to continue this important direction. Climate and gender: the work program has been extended for 10 years, and we expect decisions in Brazil. This was a busy and quite challenging COP for all countries, especially for Ukraine,” noted Minister Svitlana Hrynchuk.
She also explained what the results mean for Ukraine: We will receive funds for implementing our climate plans and projects. We will be able to attract additional investments under Article 6 and join financing from international financial institutions for green energy, green recovery, and climate adaptation.
According to Svitlana Hrynchuk, an important element of the work in Baku was the Ukrainian pavilion, which fulfilled its mission of attracting international partners to “green” recovery – despite the war and destruction. It will serve as a symbol of global unity around Ukraine even after the conclusion of COP29.
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