Baku: “This forum has been a testament to the power of collaboration and the shared commitment to advancing climate finance in action. Our discussions have underscored the critical role of financing and investment in delivering on the Paris Agreement and the Sustainable Development Goals,” COP29 Lead Negotiator, Deputy Foreign Minister Yalchin Rafiyev said at the “COP29 Business, Investment, and Philanthropy Climate Platform” event, organized in collaboration with the Export and Investment Promotion Agency (AZPROMO) within the framework of the 29th session of the United Nations Framework Convention on Climate Change (COP29) held in Baku, APA reports.
According to Azeri-Press News Agency, throughout the sessions, participants explored innovative financial solutions, the critical role of foreign direct investment, and the transformative potential of public-private partnerships. The discussions underscored the importance of leveraging both public and private capital to bridge the climate finance gap, which exce
eds $1 trillion, and to amplify public sector investments. Diverse actors from finance, government, philanthropy, and civil society were called upon to work together towards the common goal of accelerating a just transition to a decarbonized future.