Needs of vulnerable must be at forefront of COP29

With urgent action needed to accelerate climate transition finance, the Asian Development Bank Institute (ADBI) will convene several joint events in Baku, Azerbaijan, during the UNFCCC Climate Change Conference (COP29) to amplify the voices of those most vulnerable to climate change and spur greater international cooperation, reports UNB.
Taking place at locations outside the official Blue Zone between November13-17, media representatives have been invited to join events, in person, or online.
Ahead of COP29, CEO and Dean of ADBI Tetsushi Sonobe on Sunday said currently a divergence remains between developed and developing countries in setting a new collective quantified goal for climate finance.
"Moreover, in the last two climate COPs, tension was raised by the reductive positioning of 'Global North vs Global South.' This situation is counterproductive and must be replaced by trust and collaboration, even in times of heightened geo-political tensions," Sonobe said.
He said climate change action and sustainable development are intertwined. "The needs of those most vulnerable to climate change must be at the forefront of the COP29 negotiations."
The events will bring together senior representatives from governments, central banks, multilateral development banks, the private sector, international organizations, think tanks, academia, and civil society from across Asia and the Pacific, Europe, and Africa, said the ADBI.
Themed around climate transition finance and solutions for vulnerable countries, among the topics discussed at the events will be financial regulators' role in a shift to net-zero economy, technological innovation, boosting green finance and external resource mobilization, disaster preparedness, and loss and damage.
The Asian Development Bank, ADA University, Azerbaijan Technical University, Center for Analysis of Economic Reforms and Communication of the Republic of Azerbaijan, and Khazar University are event cohosts.
Founded in 1997 the Asian Development Bank Institute (ADBI) is the Tokyo-based think tank of the Asian Development Bank.