Switzerland wants to expand climate protection funding at a new climate summit

Baku – The 29th United Nations Climate Change Conference will begin in Azerbaijan on Monday (tomorrow). At COP29, as it will be called in short, it is expected that the states will participate in a new general financial target for investments in global climate protection.

One of Switzerland‘s goals at the climate summit is to increase the number of donor countries investing in global climate protection.

All countries should contribute “to the best of their ability”, especially “rich countries with high greenhouse gas emissions”. The Federal Environment Office (BAFU) announced this before the conference. When asked, the Bafu specified that not only industrialized countries should pay, but also countries such as China and Saudi Arabia.

At the 2015 climate conference in Paris, it was agreed that industrialized countries would make $100 billion available annually for climate protection measures in developing countries by 2025. According to Bafu, this goal has been achieved for the first time in 2022. Switzerland transferred more than 700 million Swiss francs for climate finance in 2022.

The non-governmental organizations Alliance Sud and WWF recently requested that $1,000 billion be given annually for climate protection in the countries of the South. Switzerland does not comment on this request, as the Bafu said when asked.

The states still disagree about the structure and size of the goal as well as the funding sources. There is still disagreement about which countries should be the donors, said the Bafu.

Also decide on market mechanism
In Baku it is also expected to decide on rules for the implementation of the global market mechanism. As the Federal Council recently announced, this mechanism will allow countries to implement climate protection projects abroad and achieve the emission reductions credited towards the climate target.

The countries’ new climate targets for the period up to 2035 should also be prepared. They must be submitted before 2025. According to the Federal Council, the main question is how the states will support the proposals from last year’s climate conference, namely the expansion of energy renewables and moving away from coal, oil and gas.

Federal Councilor Rösti travels to Baku
In the Azerbaijani capital Baku, the Swiss negotiating delegation is led by the environment ambassador Felix Wertli, head of the Department of International Affairs at Bafu. The delegation also includes civil society representatives from business and environmental circles. Wertli had already led the Swiss delegation at last year’s World Climate Conference, which took place in Dubai.

Federal Councilor Albert Rösti wants to participate in COP29 in the second week of the conference, as is known since September. The conference is expected to last until November 22. (awp/mc/ps)