“COP measures will be supported by the state until the price of new green solutions is equal to orgoes lower than the price of traditional solutions,” said Elnur Soltanov, Chief Executive Officer of COP29 Azerbaijan and Deputy Minister of Energy at conference titled “Raising Ambition, Delivering Action: COP29 Sustainable Business Forum", APA-Economics reports.
“Then COP conferences will cease their activities. Because the private sector will already be involved in this work,” – E. Soltanov added.
He said that one of the main issues for COP 29 is the funding issue:
“In our country, the financial issue is it's a state-to-state financial issue. Currently, the amount of funding is USD 100 billion and there is no work that amount can solve. Because, excluding China, the funding needed every year is 2.4 billion dollars.”
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