COP29 CEO eager to complete marathon of climate talks in November

In a recent interview with CNBC-Africa, Azerbaijani Deputy Energy Minister, Chief Executive Officer of COP29 Elnur Soltanov, highlighted the significance of the three main agenda items of the incoming COP29, such as the New Collective Quantified Goal (NCQG), Article 6 on carbon markets, and the Loss and Damage Fund for African countries, Report informs.

Soltanov stated that the upcoming conference in Baku this November will primarily focus on climate finance matters. "The importance of this topic is unquestionable," he emphasized. "The three main issues on the agenda are the increase in the previously agreed $100 billion climate finance, Article 6 related to the carbon market and some market-based approaches, which is also an aspect of climate finance. The issue of the Loss and Damage Fund is also included here."

Expressing optimism about the progress made so far, the COP29 CEO called the adoption of the agenda during the Bonn climate conference an important step forward. However, he acknowledged that challenges remain, particularly in achieving ambitious and fair financial commitments to address the climate crisis.

Soltanov stressed the importance of ongoing negotiations in determining the success of COP29 and the level of commitment from all participating parties. "Regarding the New Collective Quantified Goal (NCQG), expectations were higher, but this is a newly starting marathon," he said. "We intend to gain momentum and successfully conclude the process in November."