The COP29 Climate Summit in Baku has come to an end. This morning, countries agreed on a new climate target of USD 300 billion a year by 2035 for developing countries.

The new climate finance will be used to support nationally determined contributions, national adaptation plans, and to raise the level of ambition to combat climate change, etc. This was announced by Svitlana Grynchuk, Minister of Environmental Protection and Natural Resources of Ukraine.

"A package of decisions on Article 6 - market mechanisms of the Paris Agreement - has been adopted. We continued to develop the work programme on agriculture and created a portal for submitting new projects. Steps have been taken to develop the global adaptation goal. As for the Mitigation Work Programme, countries have developed elements to continue this important area. Climate and gender: we extended the work programme for 10 years and are awaiting a decision in Brazil. It was an intense and quite challenging COP for all countries of the world and for Ukraine in particular," says Svitlana Grynchuk.

She also explained what the results mean for Ukraine: "We will receive funds to implement our climate plans and projects. We will attract additional investments under Article 6, as well as access funding from international financial institutions for green energy, green recovery and climate change adaptation."

According to Svitlana Grynchuk, an important element of the work in Baku was the Ukrainian pavilion, which fulfilled its mission of engaging international partners in green recovery - despite the war and destruction. It will remain a symbol of the world's unity around Ukraine even after the end of the COP29.

"The idea of our hub during the UN Climate Summit in Baku received a significant response. 30+ interviews with global media, more than 30 bilateral meetings with partner countries and international organisations, 50+ events within the pavilion, more than 1000 participants of events, 7000+ visitors to the pavilion - all this is the result of the work of a large and well-coordinated team. I am grateful to everyone who contributed to the creation of the Ukrainian pavilion and the dissemination of its idea," said Svitlana Grynchuk.