Countries are unable to declare their commitments due to financial issues, Yalchin Rafiyev, Deputy Minister of Foreign Affairs and Lead Negotiator for COP29, said during the panel discussion titled "Climate Imperative – from Local to Global Action" on the opening day of the Baku Climate Action Week.
He noted that COP29 aims to call for fair and ambitious solutions from the international community: “An important step in raising ambitions is to increase transparency. We are contributing to enhancing technical capacities in this area globally. We also expect developing countries to present their transparency reports. The main goal is to keep the temperature below 1.5 degrees. However, the crucial aspect is directing additional funds towards this. Financing must be increased so that developing countries can participate in this process. We see new consequences of climate change every day. Technology is essential for this. The level of the Caspian Sea is decreasing. We need to explore how we can utilize artificial intelligence to address this issue. Carbon markets and carbon trading are also significant matters. There has been positive progress in this regard.”
Yalchin Rafiyev emphasized that Azerbaijan is focusing not only on energy transition but also on increasing stability in rural areas.
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