COP29 Opens in Azerbaijan With Climate Finance at Top of Agenda

TIME

Soaring rhetoric, urgent pleas and pledges of cooperation contrasted with a backdrop of seismic political changes, global wars and economic hardships as United Nations annual climate talks began Monday and got right to the hard part: money.

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00:00Whether you see them or not, people are suffering in the shadows.

00:05They are dying in the dark.

00:08And they need more than compassion, more than prayers and paperwork.

00:14And they are crying out for leadership and action.

00:18COP29 is an unmissable moment to chart a new path forward for everyone.

00:25But we need much more from all of you.

00:29And I want to be crystal clear about our expectations.

00:34Our plan is based on two pillars to enhance ambition and enable action.

00:41This means setting out clear climate plans and delivering the finance we need.

00:48These two pillars are mutually reinforcing, each sending a strong signal to the other.

00:55Because as we mobilize climate finance, we allow for higher ambitions.

01:01And as we signal together higher ambition, we build trust to unlock greater financial

01:07commitments.

01:08Dear colleagues, to enable action, the COP29 presidency's top priority is to agree a

01:16fair and ambitious new collective quantified goal on climate finance.

01:22But we still have much to do and just 12 days to land a deal.

01:28We now urgently need to finalize the elements, resolve our differences on contributors and

01:34quantum, and set the new goal.

01:38These negotiations are complex and difficult.

01:43We understand the political and financial constraints.

01:47But let me make two points.

01:49First, these numbers may sound big, but they are nothing compared to cost of inaction.

01:57This investment payoff.

02:01And second, we are all in this together.

02:05Nothing has a greater impact on the security, prosperity, and well-being of all nations

02:11than climate change.

02:13And everyone is watching.

02:15And they are waiting.

02:17Africa is waiting.

02:19Asia is waiting.

02:21Europe is waiting.

02:23The Pacific is waiting.

02:25North America is waiting.

02:27South America is waiting.

02:29The Caribbean is waiting.

02:31Ladies and gentlemen, they are waiting for us to show leadership.

02:36And they cannot afford the cost of delay.

02:39So let us enhance ambition and enable action.

02:43Let us move forward in solidarity for a green world.

02:47And let us go to work.

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