The Executive Secretary of UNFCCC, Simon Stiell, who made the call, stressed that the climate crisis had a far-reaching impact on all aspects of humanity and was also dealing a devastating blow to national economies, for which reason no country should frustrate global efforts to tackle the menace.

He further observed that although the climate crisis was affecting every single individual in the world in one way or another, it was frustrating a single COP could not deliver the full transformation that every nation needed.

"But if we want to address the excesses of the climate crisis, then it is here that Parties need to agree a way out of this mess.

"That is why here in Baku, we must agree on a new global climate finance goal," he said. 

Participation

The COP29 Summit is one of the largest gatherings of world leaders to accelerate actions towards the goals of the Paris Agreement on the UNFCCC.

About 50,000 delegates are attending the COP, comprised of over 100 government representatives from Africa who will be joining other UN member states, the State of Palestine, the Holy See, the Cook Islands and the European Union, who are parties to the UNFCCC.

Some key thematic areas of focus and activities that are expected to happen at the two-week COP29 are the World Leaders Climate Action Summit, which sets the tone for the conference; finance, investment and trade; energy and peace; relief and recovery, as well as science, technology and innovation.

Also key on the agenda are issues of human development, including children and youth, health, education, food, water and agriculture; urbanisation, transport and tourism, as well as indigenous peoples, gender equality, and nature and biodiversity.

Bold actions

Rallying the world for climate action, Mr Stiell said COP29 was a platform for bold and frank discussions on climate financing and world leaders could not afford to lose that opportunity.

"So, let us dispense with any idea that climate finance is charity. An ambitious new climate finance goal is entirely in the self-interest of every nation, including the largest and wealthiest," he said.

However, he added that it was not enough to just agree to a goal; "and we must work harder to reform the global financial system."

Mr Stiell said COP29 must get international carbon markets up and running by finalising Article 6 of the Paris Agreement.

Again, he underscored the need to move forward on mitigation so that targets from COP28 can be realised. 

"We must not let 1.5 slip out of reach, and even as temperatures rise, the implementation of our agreements must claw them back," he said.

Critical issues

The UNFCCC Executive Secretary urged world leaders to work hand in glove in taking bold, unwavering steps towards addressing the global climate crisis.

He stressed that it was by leveraging technology, human ingenuity and partnerships that humanity could survive the scourge of the crisis.

"What inspires me is human ingenuity and determination: our ability to get knocked down and to get up again over and over again, until we accomplish our goals," he said.

He added that when countries threw their hands in despair, rather than soldiering on with the needed climate action, the impact of the crisis would be dire to both humanity and the planet.

Mr Stiell said the UNFCCC process was the only place world leaders could converge and address the rampant climate crisis, "and credibly hold each other to account to act on it."

"We cannot afford to continue upending lives and livelihoods in every nation - so let’s make this real," he said.

He said tackling the climate crisis meant that at least two-thirds of the world's countries must be able to cut emissions quickly.

"If nations can’t build resilience into supply chains, the entire global economy will be brought to its knees. No country is immune.

Additionally, he said countries must continue to improve the new mechanisms for financial and technical support on loss and damage.