Inp.polri.go.id - Jakarta. The House of Representatives' (DPR)s Parliamentary Cooperation Body (BKSAP) has called for fair and innovative climate funding at the 29th United Nations Climate Change Conference (COP29) in Baku, Azerbaijan. 

Speaking at the “Unpacking the Global Climate Finance Architecture” session, BKSAP Deputy Chair Ravindra Airlangga emphasized the need for proportional contributions to support developing nations in facing climate challenges.

“Innovative approaches are necessary to accelerate the transition towards sustainability and protect developing countries from severe climate impacts. Shared responsibility must come with proportional contributions,” Ravindra said on Sunday (17/11/2024).

He highlighted the historical context of emissions, noting, “Seventy-nine percent of global CO2 emissions have come from a handful of developed nations, while developing countries suffer the harshest consequences.”

Ravindra welcomed the climate funding commitments under the UNFCCC framework but stressed the urgency of swift implementation. He pointed out that climate change damages could cost nearly half of global GDP by 2050, citing projections from the Potsdam Institute for Climate Impact Research.

“Through our Nationally Determined Contribution, Indonesia aims to cut emissions by 31.89% independently and up to 43.2% with international support,” Ravindra said, as quoted by antaranews.com.

GHe also called for climate finance initiatives projected to reach $5.4 trillion annually by 2030 and incentives to boost public sector engagement in climate action.

(mg/inp/pr/nm)