Indonesian Parliament Encourages Fair And Innovative Climate Funding At COP29

The House of Representatives' Inter-Parliamentary Cooperation Agency (BKSAP) calls for a fairer collective action to address the challenges of climate change during the Parliamentary Meeting on 29th United Nations Climate Conference COP29 in Baku, Azerbaijan.

"Innovative approach is expected to accelerate the transition to sustainability and protect developing countries from the worst effects of climate change. The shared responsibility must be accompanied by a proportional contribution," said Deputy Chairman of the BKSAP DPR RI Ravindra Airlangga in a statement in Jakarta, Sunday.

This was conveyed by Ravindra in the Unpacking the Global Climate Finance Architecture: Mobilizing Resources and Streamlining Access to Climate Change session at COP29 in Azerbaijan.

According to members of Commission IX of the House of Representatives, this commitment is needed to accelerate the transition of sustainability and protect developing countries from the adverse effects of climate change.

Ravindra appreciated the climate funding commitments of developed countries covered by UNFCCC. According to him, this is important to echo and implement.

He emphasized the urgency of funding for developing countries as the party most affected by climate change. Although, according to him, the contribution of emissions is relatively small.

"A total of 79 percent of global CO2 emissions historically came from a handful of developed countries, while developing countries were the ones who felt the worst impact of climate change," Ravindra said.

He said, based on the Postdam Institute of Climate Change projection, losses due to climate change could reach almost half of the world's GDP by 2050. Under these conditions, He emphasized Indonesia's commitment to reducing emissions.

Mentioned that based on the Global Climate Atlas, Indonesia contributed 1.7 percent of total global emissions in 2021.

"Indonesia is committed through the Nationally Determined Contribution (NDC) to reduce emissions by 31.89 percent independently and up to 43.2 percent with international funding support," said Ravindra Airlangga.