"This forum has been a testament to the power of collaboration and the shared commitment to advancing climate finance in action. Our discussions have underscored the critical role of financing and investment in delivering on the Paris Agreement and the Sustainable Development Goals," COP29 Lead Negotiator, Deputy Foreign Minister Yalchin Rafiyev said at the "COP29 Business, Investment, and Philanthropy Climate Platform" event, organized in collaboration with the Export and Investment Promotion Agency (AZPROMO) within the framework of the 29th session of the United Nations Framework Convention on Climate Change (COP29) held in Baku, APA reports.
"Throughout the sessions, we have explored innovative financial solutions, the critical role of foreign direct investment, and the transformative potential of public-private partnerships. The discussions have underscored the importance of leveraging both public and private capital to bridge the climate finance gap, which exceeds $1 trillion, and to amplify public sector investments. Diverse actors from finance, government, philanthropy and civil society must work together towards a common goal of accelerating a just transition to a decarbonized future," he added.
Mirvari Azizova
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