At the upcoming COP-29 UN Climate Change Conference in Baku, participating countries aim to establish a new collective climate finance target, announced Ukraine's Minister of Environmental Protection and Natural Resources, Svitlana Hrynchuk.

"This year's climate conference has already been called the Finance COP – for the first time in 15 years, countries are expected to set a new collective global climate finance goal. Developed nations have already allocated $100 billion to support low-carbon development in developing countries, and at COP-29, discussions will focus on increasing these funds," she said in an interview with Interfax-Ukraine.

Hrynchuk highlighted that this issue will be a key focus for Ukraine at COP-29, as climate finance could be pivotal in attracting investments for a green recovery and for building a low-carbon economy in the country.