2024-07-04 09:20:56
Azerbaijan and the world as a whole need the help of the private sector in finding effective solutions to common problems of combating climate change.
As reported on Wednesday by Day.Az with reference to Trend, this was stated by the President of COP29, Minister of Ecology and Natural Resources of Azerbaijan Mukhtar Babayev in a video address to the participants of the Environmental, Social and Corporate Governance (ESG) Summit “Public-Private Partnerships for Sustainable Development” in Baku.
“Working together, we can support efforts to create a collaborative environment where public and private organizations can share ideas, strategies, and best practices on ESG implementation. I think private companies should take responsibility for addressing current climate challenges,” Babayev said.
The Minister noted that at the moment it is very important to choose reliable energy transition paths that will be supported by financial plans, budgets and target indicators.
“We hope that companies can participate at COP29 and demonstrate how they allocate capital and ensure that investment decisions are aligned with our climate change goals. Let’s start with green capital markets so that we can create viable economic models. Without this, it is difficult to create sustainable development and a sustainable future,” he added.