As the U.S. government cuts funding for climate-related scientific services, private data firms are experiencing a surge in demand and investment. Companies like Climate X, a London-based analytics firm, are increasingly relied upon by major investors and corporations to assess climate-related risks such as flooding, wildfires, and extreme weather.

A climate fund associated with the World Bank has endorsed South Africa's efforts to reduce its dependence on coal, unlocking up to $2.6 billion (€2.25 billion) in financing and providing a significant boost to the country's energy transition plans.

As part of COP29 in Baku, an event called “Renewable Energy Investment: Pathways to a Sustainable Future” took place, News.Az reports.

The COP29 Presidency has unveiled the Baku Initiative for Climate Finance, Investment, and Trade (BICFIT) Dialogue, receiving endorsement from past, present, and future COP Presidencies.

Azerbaijan’s Deputy Minister of Economy Samad Bashirli has met with World Bank's Practice Manager for Macroeconomics, Trade and Investments for the Europe and Central Asia Region Antonio Nucifora, the Ministry of Economy has told AZERTAC.