COP29 President,

Excellencies, 

Distinguished ladies and gentlemen,

I would like to express our gratitude and appreciation to the Government of Azerbaijan for presiding over and hosting COP29.

I also thank the people of Azerbaijan for your warm hospitality accorded to us and to all our delegations in this beautiful city of Baku.

Climate change impacts are a threat to agriculture, water resources, biodiversity, and human health. In Rwanda, according to the recent Country Climate and Development Report, climate change could cost 5 to 7 percent of our GDP annually by 2050. This will have a significant impact on our economy. Rwanda needs 11 billion USD to build resilience and reduce our GHG emissions by 38% by 2030 compared to business as usual.

To address the above challenges, Rwanda has placed climate resilience at the heart of our development agenda. Rwanda has consistently set ambitious climate targets, and while we are revising our Nationally Determined Contributions (NDCs), we will once again raise our ambition from the baseline of 38% reduction by 2030 as pledged before. By 2050, Rwanda aims to be a climate neutral nation.

COP29 President,

COP29 should deliver ambitious, balanced, fair and just outcomes that put the world on a course to effectively address climate change on several fronts including adaptation, loss and damage, finance and mitigation. Such an outcome should be guided by the best available science, and the principles and provisions of the Convention and the Paris Agreement.

Countries must set a new collective goal for climate finance that meets the needs of developing countries, now and into the future, who are particularly vulnerable to climate change.

The quality of finance is particularly critical for African countries. There is a need to address the unsustainable debt burden, the high cost of capital and the increasing use of non-concessional finance instruments that hinder the ability of African countries to achieve their climate and development goals. 

The New Collective Quantified Goal (NCQG) framework should therefore address the types of finance instruments and their relative contribution to the quantum, with a clear share for public grant finance. 

Indeed, The fund for responding to Loss and Damage needs to be fully operationalised and resourced to support developing countries to respond effectively to these losses and damages. Prioritising grant-based and concessional financing is vital.

Globally, we need high emitting nations to do more to quickly reduce emissions and swiftly move to clean energy. Climate action must be collective. That means working together to share knowledge, experience and the technologies required to build a greener future.

In conclusion, Rwanda reiterates its commitment and stands ready to work collaboratively with the international community to implement effective climate solutions that safeguard the well-being of present and future generations. 

Let us seize this opportunity at COP29 to reinforce our commitment to a sustainable, resilient, and low-carbon future.

I thank you.