"Steps will be taken to raise $1 billion in investment for the Climate Finance Fund within the framework of COP29," the COP29 Azerbaijan Lead Negotiator Yalchin Rafiyev said at a press conference of the COP29 Presidency, APA reports.
He stated that serious steps should be taken to provide government guarantees to small and medium-sized enterprises operating in the renewable energy sector, as well as entrepreneurs involved in green energy production:
"I believe that attention should also be increased towards food and agriculture sectors, as well as the protection of soil layers and ensuring the food needs of communities. Within the framework of COP29, steps will be taken to raise $1 billion in investment for the Climate Finance Fund. We are currently working towards this. The created Fund will aim to prioritize financing the cectors, as well as achieving zero waste levels. Profits from the implemented projects will be redirected into the Fund as investments. The headquarters of the created Fund will be located in Baku."
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