Azerbaijan pledges $1.2B for green projects to accelerate low-carbon transition

At the upcoming COP29 climate conference in Baku, Azerbaijan has unveiled a significant financial commitment to fund green projects to support the country’s transition to a low-carbon economy.

The announcement was made by Zakir Nuriyev, President of the Azerbaijan Banks Association, the COP29 Presidency said on X, News.Az reports.

Speaking at an event on the sidelines of COP29, Nuriyev announced details of a pledge which will allocate AZN 2 billion ($1.2 billion) for the development of green projects until 2030.

“The pledge will be used to fund projects that will contribute to Azerbaijan's transition to a low-carbon economy,” he noted.

News.Az