Environment Minister Takes Part in Round Table on Climate Financing

On 12 November, in Baku (Azerbaijan), Ms. Messaouda Mint Baham Ould Mohamed Laghdhdaf, the Minister of Environment and Sustainable Development, took part in the high-level round table on climate financing, organized as part of the 29th session of the COP29.

Speaking on the occasion, the Minister of Environment and Sustainable Development welcomed the initiative to organize this high-level session to exchange views on climate financing.

She added that the theme of today’s meeting is particularly important in the context of the COP29, as the 2015 Paris Agreement has proved to be the only binding and ambitious agreement to keep the global temperature rise to 1.5 degrees, stressing that the mobilization of financial resources is a sine qua non condition for achieving the desired objectives.

Mint Mohamed LaghHdaf stressed the need to accelerate the development of incentive mechanisms to mobilize funding for the needs of developing countries, including the financing of the Loss and Damage Fund, adding that Mauritania worked during 2024 on several fronts in climate financing on the one hand, continuing to strengthen its role and cooperation with financial instruments dedicated to climate action, and on the other supporting all means that would enable the realization of multilaterally agreed arrangements.

She added that “there are many opportunities around climate finance to create more synergies with other processes not directly linked to the Convention, stressing that Africa remains ambitious on climate financing and is working to ensure that the new collective measurable target achieves ambitions and needs while monitoring equal parity between adaptation and mitigation.”

The Minister reiterated the determination of the Mauritanian Presidency of the African Union to work with the Azerbaijani Presidency of COP 29 and the Heads of State and Government to pursue climate financing in earnest.