Azerbaijan ready to collaborate for climate financing, says Mukhtar Babayev
Azerbaijan to Develop Baku-Belen Roadmap to Increase Climate Change Funding
Azerbaijan is taking proactive steps to collaborate with all stakeholders in the development of the Baku-Belen roadmap, aiming to boost climate change funding to $1.3 trillion per year by 2035. This initiative was highlighted by Mukhtar Babayev, the COP29 President and Representative of the President of Azerbaijan on Climate Issues, during the International Climate Forum.
Babayev emphasized the importance of a critical year ahead, where each country will need to elevate its ambitions as part of the next generation of national climate plans. He urged countries to submit their emission reduction plans, known as ‘nationally determined contributions,’ by September. These submissions will be consolidated at COP30 to assess the collective progress in implementing National Adaptation Plans to address the consequences of climate change.
Acknowledging the complexity of preparing such reports, the COP29 President mentioned that Azerbaijan has conducted capacity-building workshops and collaborated with the UN system to provide support through HELPS. He stressed the significance of producing reliable and confident reports to enable green investments, set targets, highlight priorities, and demonstrate the government’s commitment to combating climate change.
Babayev underlined the necessity of collective action, stating that Azerbaijan cannot tackle the climate crisis alone. Therefore, the country is committed to a multilateral process and hosted COP29 in Baku as part of this effort. He expressed eagerness to continue building partnerships with all parties in the years ahead to address climate challenges effectively.
