“Global financial institutions are sending out positive signals that we intend to create a world free of poverty on a livable planet. And they are stepping up to their climate responsibilities with concrete action,” said President-Designate Babayev. “To unlock climate finance at greater multiples, these institutions must go further and faster. We must ratchet up our actions to the highest possible levels of ambition. We must do today what we thought was impossible yesterday.”
Azerbaijan’s Minister of Ecology and Natural Resources Mukhtar Babayev, who will serve as COP29 President-Designate at this year’s edition of the annual climate conference, challenged the world’s financial institutions to step up funding to save the planet.
The COP29 Presidency hosted the “Dialogue on Enabling Global Action for Climate Finance” during the Spring Meetings of the World Bank Group and the International Monetary Fund (IMF) in Washington, D.C. last week.
