(Finance) – “Alla Cop29 Of Bakusmall steps forward have been made on a financial level, namely the commitment to triple financial flows towards the least responsible countries in the change climatebut more affected by its effects, which, however, have overshadowed decisions on climate policies.” To say it Luciana Favaropresident of Euclipathe association that brings together numerous ambassadors of the European Climate Pact appointed by the European Commission.
“In this way, fossil fuels stakeholders were able to impose backward steps, further slowing down the exit from coal, gas and oil compared to renewable sources – continues Favaro -. The theme of the increase of financing to vulnerable countries to help them manage the devastating impacts of climate change, certainly important and necessary, has overshadowed the policies global of mitigation and adaptation and this is not good news. Furthermore, the results obtained were still much lower than the requests and true needs of the people Villages vulnerablethus changing the trajectory of the necessary financial commitments downwards.”
Euclipa’s hope for the next COP editions is that “global solutions to combat to the climate emergency” with “greater ambition” and “with the absence of that influence of interests linked to the economy of fuels fossils which we witnessed in Dubai and Baku.” Time “as underlined by UN Secretary Guterres, is not on our side”, concluded Luciana Favaro.