Azerbaijan’s COP presidency is pivotal in rebuilding trust and alignment between the global north and south through a new climate financing target sustained by developed countries, Mukhtar Babayev, Azerbaijan’s Minister for Ecology and Natural Resources and the President Designate of COP29, said in an interview with Forbes, Ednews informs.
“Azerbaijan is at the crossroads between the East and West, and South. That's why we would like to be the bridge between the developing and developed world,” he says.
“We must demonstrate that the world is ready to work together to support each other,” he asserts, expressing frustration with recent challenges achieving consensus among nations. “This is a very critical time, not only for Azerbaijan but for the entire world, to find solutions.”
With climate adaptation in developing countries requiring up to 18 times current contributions— at least 50% more than was previously thought—Babayev is adamant that the private sector has a critical role to play."