Mukhtar Babayev, president of COP29, has called for global unity as the world approaches a critical turning point in climate change negotiations.

Speaking during discussions in the Azerbaijan capital Baku, Babayev said that talks are now approaching a “more focused dialogue” on collective climate finance.

“The conclusion of the final meeting of the ad hoc work program marks the beginning of the end,” Babayev said, indicating a shift toward a framework that will guide discussions leading up to COP29. 

In addition, the president also expressed his belief that a comprehensive draft negotiating text could be developed as the foundation for the COP29 presidency’s final phase.

This preparation is crucial, as nations strive to achieve a new goal in climate finance that aligns with the urgent demands of the environmental crisis, he said. 

“We have full confidence in the co-chairs of the ad hoc work program as they now develop a substantive framework for a draft negotiating text. This substantive framework will serve as the basis for the COP29 presidency’s final period of intensive political and technical engagements as we prepare to nail down a deal on a new climate finance goal at COP29,” Babayev said.

However, the president also warned that the road ahead would be full of challenges that will require persistence and cooperation from all countries involved.

“We are on the right track and have come a long way, but we still risk falling short. Determination and leadership is needed from all parties to bridge the gaps that still divide us in this critical final phase. Everyone now needs to take ownership of finding an agreement.

“Sticking to set positions and failing to move toward each other will leave too much ground to be covered at COP29,” he said, adding that the stakes have never been higher.

Babayev said that billions of people worldwide are counting on leaders to deliver climate finance on a scale that is equal to the urgency of the climate change crisis.

“We will spare no effort to deliver a fair and ambitious new goal in Baku at COP29,” he said.

As the COP29 presidency prepares for the final negotiations in November, the world is watching as leaders discuss obligatory finance to combat climate change, and reduce its effects on vulnerable countries.