Bat-Erdene Bat-Ulzii, Minister of Environment and Tourism of Mongolia, said that the 28th United Nations Conference of the Parties (COP28) is very distinguished in its discussions of the fundamental issues facing climate transformation, the first of which is the Loss and Damage Fund.
On the sidelines of his participation in COP28 in Dubai, Minister Bat-Ulzii told the Emirates News Agency (WAM) that this conference witnessed the operationalisation of the Loss and Damage Fund and discussed mechanisms to secure funding and increase accessibility.
He pointed out that the national reports, as a milestone, increase the importance of this edition of the Conference of the Parties, as it marks the conclusion of the submission of national and global reports of the Convention and the commitments and pledges made by member states, adding that stocktake and implementation is essential during COP28.
Bat-Ulzii expected that the stocktake would contribute to strengthening mechanisms and ways to address climate challenges
in order to achieve the Conference’s objectives in the future.
He underscored the importance of the issue of climate finance and carbon markets, noting that they are ‘very interesting practices’, expressing his hope for more concrete actions and more proposals in this regard.
Regarding the Loss and Damage Fund, he highlighted the importance of uniting efforts and making the fund open and accessible to all countries.
Minister Bat-Ulzii emphasised the environmental initiatives that Mongolia is undertaking, including those launched by the President of Mongolia, which address measures to combat desertification, reduce land degradation, and enhance efforts towards climate change.
He reported that Mongolia has pledged in its Nationally Determined Contributions (NDCs) to reduce greenhouse gas emissions by 22.7 percent by 2030, which is equivalent to 86 million tonnes of greenhouse gases that need to be reduced and its participation in the global commitment.
He expressed his confidence in achieving the interim g
oals by 2030 through the comprehensiveness of the plan and goals, noting that in the field of renewable energy, they have pledged to reach an increase in the share of renewable energy to 30 percent.
Source: Emirates News Agency