Ali Serim Praises Azerbaijan’s Hosting of COP29, Set to Begin November 11, as a Landmark “Finance COP”

COP29, the 29th annual United Nations Climate Change Conference, begins on November 11 in Baku, Azerbaijan, where global leaders and climate advocates, including Ali Serim, a globally recognised climate advocate and climate finance authority, will address the critical role of finance in combating climate change. Known as the “Finance COP,” this year’s conference will establish new climate finance targets to support developing nations. Serim, also known as a key advisor in sustainable finance and climate change to global industry-leading institutions, commended Azerbaijan for its exceptional efforts and dedication, which have prepared Baku to host the most significant event of 2024 and one of the globe’s most important gatherings.

“Azerbaijan’s commitment to COP29 is evident in the impressive preparations they have made, transforming Baku into a center of global climate diplomacy,” said Serim. “This effort underscores Azerbaijan’s leadership on the world stage, creating an environment where this historic conference can advance urgent climate finance reforms. Azerbaijan’s work has set the stage for a transformative COP that will be remembered as the turning point in achieving accessible, fair climate finance for the world’s most vulnerable nations.”

For Small Island Developing States (SIDS), COP29 will be particularly historic. With strong support from the host country, these vulnerable nations can expect meaningful steps toward securing critical funding for resilience and adaptation. This year, for the first time in 15 years, COP29 will revisit global climate finance targets, should be focusing on grants and direct aid rather than debt-inducing instruments, a crucial shift for developing countries facing escalating climate impacts. Serim emphasized that the outcomes of COP29 will shape sustainable finance worldwide, urging financial institutions globally to engage with its goals.

“History will be made here in Baku,” Serim continued. “Azerbaijan has raised the bar, delivering a world-class setting for this pivotal event. Their role as host reflects an unwavering commitment to uniting global leaders and institutions around a sustainable future.”

COP29 will run from November 11–22, 2024, and promises to drive international collaboration toward climate resilience. Azerbaijan’s outstanding preparations set a high standard, ensuring Baku will be remembered as the host of a conference that redefined climate finance.