COP29 Lead Negotiator calls for joining efforts towards carbon-free future

Various participants from the financial sector, governments, charitable organizations, and civil society must join forces to accelerate a fair transition to a carbon-free future, COP29 Chief Negotiator and Deputy Foreign Minister Yalchin Rafiyev said at the closing ceremony of the "COP29 Platform for Business, Investment and Philanthropy in Climate," organized jointly with the Export and Investment Promotion Agency (AZPROMO).

According to him, this event demonstrated the power of cooperation and shared commitment to developing climate financing: "Our discussions highlighted the crucial role of financing and investment in achieving the goals of the Paris Agreement and Sustainable Development Goals. During the sessions, we examined innovative financial solutions, the key role of foreign direct investment, and the transformative potential of public-private partnerships. The discussions emphasized the importance of attracting both public and private capital to overcome the climate finance gap exceeding $1 trillion, as well as increasing investments."