COP29 participants agree to double climate finance

According to the Azerbaijani Foreign Ministry's statement, agreement to increase commitments for climate finance was reached at COP29. The announcement followed a meeting between the Azerbaijani Foreign Minister, Jeyhun Bayramov, and his Norwegian counterpart, Anne Beathe Tvinnereim.

"Minister Jeyhun Bayramov reported that during the negotiations, agreements have been reached on Article 6.4 of the Paris Agreement, as well as on raising annual climate finance commitments by multilateral financial institutions from $75 billion to $170 billion",

the Azerbaijani Foreign Ministry said.

In addition to this, Bayramov told Tvinnereim about the ended conflict with Armenia, the post-conflict situation in the South Caucasus and Azerbaijan's peace initiatives. He also informed his colleague about the mine threat from Armenia.

Let us remind you that COP29 started in the Azerbaijani capital on November 11. For a week and a half, representatives of more than 100 countries have been discussing the development of effective solutions aimed at combating the impact of global warming, as well as issues related to the green agenda.