British ambassador: If we manage issues correctly at COP29 to be held in Baku, financial opportunities will gather

Fergus Auld, the ambassador of Great Britain to Azerbaijan

© APA | Fergus Auld, the ambassador of Great Britain to Azerbaijan

# 03 October 2024 17:01 (UTC +04:00)

"I am not an expert on the financial market. But I have an experience with carbon trading, said Fergus Auld, the ambassador of Great Britain to Azerbaijan, at the round table on "Reduction of carbon emissions and market mechanisms", APA reports.

He said that his country has many years of experience with carbon markets: "As the UK government, we believe that carbon markets can attract finance and provide support to countries. The United Kingdom also has a role in the formation of these markets. Putting a price on carbon is fundamental. Finding a cost-effective way and involving the private sector is the key. Allocating funds to this area is a challenge standing before us. Carbon markets could create 17 million jobs by 2030. This means more jobs than jobs in the oil and gas sector. Therefore, the United Kingdom encourages more than 30 states to create this market. Within the framework of COP29, Azerbaijan can raise the negotiations to the next stage and create conditions for us to take the next steps. If we manage the issues correctly at the COP29 to be held in Baku, financial opportunities will gather. Carbon markets can provide the highest benefits for people and humanity. Loans should also be allocated to this area. Azerbaijan will do all the work it is responsible for in the area of ​​0 net emissions.”

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