We are currently approaching a critical point in climate finance. The clock is ticking, but we do not have time.

Axar.az reports that German Foreign Minister Annalena Baerbock said during a press conference held within the framework of COP29.

"The rules of the game we are in are becoming increasingly stricter. To find a way out of the climate change problem, we must approve long-term adaptation plans. Currently, there are serious issues regarding the release of CO2, a toxic gas, into the atmosphere. Reports from the Loss and Damage Fund also reflect this. If we do not succeed in reducing the amount of this gas, we cannot talk about an effective fight against climate change. To prevent the global climate crisis, we must rapidly achieve the 1.5-degree target. I believe this is impossible without ensuring an effective financing mechanism."