Countries rich in natural resources should lead climate action, Azerbaijan says

Azerbaijan believes that countries rich in natural resources should lead the fight against climate change, Huseyn Huseynov, head of the Sustainable Development and Social Policy Department of the Azerbaijani Economy Ministry, during a seminar on "Green Climate Finance and Carbon Pricing Policy," Report informs.

According to Huseynov, this initiative can make a significant contribution to addressing gaps in climate finance: "For this purpose, one of the proposals related to COP29 is the establishment of a Climate Finance Action Fund."

Huseynov added that it is planned to collect $1 billion in capital and receive support from at least ten donor countries to launch the fund: "This issue is expected to be one of the main topics of discussion at COP29."