Jeyhun Bayramov, Azerbaijan’s Minister of Foreign Affairs attended and addressed the high-level roundtable discussion on climate finance on the margins of the World Leaders Climate Action Summit at the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change in Baku on Tuesday.

The roundtable featured prominent figures, including Muhammad Shehbaz Sharif, Prime Minister of Pakistan; Emomali Rahmon, President of Tajikistan; Sadyr Zhaparov, President of Kyrgyzstan; along with officials, international financial institution representatives, and financial experts.

In his address, Minister Bayramov highlighted COP29’s priorities, particularly focusing on transforming the climate finance agenda. He emphasized that mitigating the adverse impacts of climate change requires inclusive, multilateral solutions. He cited the urgency of addressing climate-related disasters such as Pakistan’s devastating 2022 floods and recent natural disasters affecting the Caribbean, India, Bangladesh, Nigeria, Chad, Spain, and other regions.

The minister stressed the importance of the historic agreement reached in Sharm el-Sheikh regarding the establishment of the Loss and Damage Fund during Pakistan’s G-77 Presidency to mitigate the consequences of such climate-related disasters.

COP29's presidency focuses on raising ambitions and enhancing efforts in combating climate change, which exacerbates the risk of natural disasters and threatens human life and global economic stability. He emphasized that addressing the existing gap in climate finance and establishing transparent, accessible mechanisms tailored to the needs of developing countries are as essential as mobilizing financial resources.

Describing the COP29 in Baku held under the slogan “In solidarity for a Green World” as a great opportunity in terms of transforming the climate finance agenda, FM Bayramov expressed hope that the COP29 would yield successful results in this regard.

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