Azerbaijan's Minister of Economy notes positive results on Article 6 of Paris Agreement

Positive results have already been achieved in the discussion of Article 6.4 of the Paris Agreement, Azerbaijan's Minister of Economy Mikayil Jabbarov told journalists.

According to Report, the minister stressed the first positive results on Article 6.4.

He added that for more than ten years, it was not possible to find a common solution, and on the first day of COP in Baku, countries agreed on a single mechanism.

Jabbarov said this shows that what is envisioned can be achieved when countries unite efforts.

According to him, the carbon market mechanism will help ensure climate financing: "We also highly value the MDB (multilateral development banks) statement about the annual commitment volume of $120 billion by 2030, this is significant progress," he said. "One of Azerbaijan's initiatives is the creation of a Climate Finance Fund, which will be replenished with funds from fossil fuel producers, whether they are countries or companies and corporations. And we will dedicate the upcoming year of our chairmanship to fulfilling the promises made," Jabbarov noted.