– I am glad that we found a solution. Climate finance is important and absolutely necessary, he says in a press release after the agreement was hammered out in Baku on the night of Sunday.
– We have now set a target of over NOK 3,000 billion annually until 2035. This will increase funding. Norway contributes heavily, and we shall continue to do so, he continues.
Together with South Africa’s environment minister, Sandvik has led the negotiations on emission cuts at the climate summit in Baku.
– We must deliver on the 1.5 degree target. We wish we had moved on. The outcome was weaker than desired. But the important provisions on emission reductions from last year are still in place, says Sandvik.
The countries also agreed on rules for cooperation on emission reductions. This can happen through joint projects or quota trading.
– This is a breakthrough and can help us reach the temperature target in the Paris Agreement. Now it will be possible with more cooperation between countries. Many have been waiting for this, and Norway has worked hard to get this in place, says Sandvik.
Read also: Agreement on climate finance at the Cop 29 summit in Azerbaijan
Read also: Climate organizations disappointed: – Now it’s embarrassing to be from Norway