Azerbaijan's Foreign Minister Jeyhun Bayramov participated and spoke at the high-level roundtable discussion on climate finance organized within the framework of the World Leaders' Climate Action Summit at the 29th session of the UN Framework Convention on Climate Change (COP29), Report informs, citing the Azerbaijani Ministry of Foreign Affairs.
The roundtable discussions were also attended by Prime Minister of the Islamic Republic of Pakistan Muhammad Shehbaz Sharif, President of the Republic of Tajikistan Emomali Rahmon, President of the Kyrgyz Republic Sadyr Zhaparov, and other high-level representatives, including representatives of international financial institutions, investors, and financial experts.
Speaking on behalf of Azerbaijan's COP29 Presidency, Minister Jeyhun Bayramov provided detailed information about the priorities of the COP29 Presidency, particularly the presidency's activities towards transforming the climate finance agenda.
It was emphasized that addressing the negative impacts and consequences of climate change requires multilateral solutions and an inclusive process, as evidenced by deadly floods in various regions of the world, including Pakistan in 2022, and recent disasters in the Caribbean, India, Bangladesh, Nigeria, Chad, Spain, and other regions.
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 was highlighted as a response to addressing such climate change-related disasters.
It was noted that Azerbaijan's COP29 presidency aims to raise ambitions and increase action in combating climate change, which increases the risk of natural disasters and threatens human life and global economic stability. In this context, it was emphasized that creating transparent and accessible mechanisms suitable for developing countries' needs is as important as attracting financial resources to eliminate the existing gap in climate finance.
It was emphasized that COP29, being held in Baku within the Green World Solidarity Year, presents an important opportunity for transforming the climate finance agenda, and hope was expressed for its success.