COP29 seeks private sector funding to combat climate change - Azerbaijan's minister 

  12 March 2024    Read: 429
  COP29 seeks private sector funding to combat climate change - Azerbaijan

Azerbaijani Minister of Ecology and Natural Resources Mukhtar Babayev has said that the main task of the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) is to attract as much as possible the private sector to finance measures to combat climate change.

Babayev, who is also the COP29 president-designate, made the remark in an  interview  with the British newspaper The Guardian, AzVision.az reports. 

According to the COP29 president, the private sector is "a very good source for new initiatives, new formats, new financing mechanisms".

Babayev also emphasised that achieving the "1.5°C target" should remain the focus of the UN Framework Convention on Climate Change negotiations.

"We need to consolidate our efforts to achieve the 1.5°C target. I am not pessimistic on this issue. We have to move towards the target and implement the programme [to reduce global emissions]. If we start acting, start implementing the agreements reached at the previous COPs, we have a chance. We will do our best," the minister concluded.

The 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) will be held in Azerbaijan in November this year.


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