Dubai: Agencies
The Secretary-General of the Gulf Cooperation Council, Jassim Mohammed Al-Budaiwi, stressed the importance of financing for both ambition and implementation, with regard to climate action, especially in emerging economies and developing countries. According to what was reported by the Middle East News Agency
This came during his participation in the roundtable to discuss climate action by promoting sustainable financing, on the sidelines of the World Government Summit 2024 under the slogan “Foreseeing the Governments of the Future” in Dubai, according to what was reported by the Saudi News Agency (SPA).
Al-Budaiwi pointed out the importance of policies to attract climate finance being context-specific and comprehensive, taking into account all paths and approaches outlined in the nationally determined contributions of developing countries under the Paris Agreement, and ensuring funding flows to all sectors and solutions to address climate change, including carbon reduction and removal technologies, stressing It is also important that the adoption of top-down global policies threatens to limit financial flows to developing countries, restrict climate action, and limit the development of biotechnology.
Al-Budaiwi expressed his aspiration for the twenty-ninth Conference of the Parties and the “new collective quantitative goal on climate financing,” and discussions on the fundamentals of climate financing, especially with regard to the new financing goal that will replace the commitment of developed countries to provide an amount of 100 billion US dollars, stressing the keenness of the GCC countries to Work constructively with the international community to reach an outcome that can advance climate action in developing countries.