Executive Director of COP29 Highlights Need for USD 200 Billion to Achieve Net Zero Carbon Emissions in Azerbaijan.

Baku: Executive Director of COP29 and Deputy Minister of Energy Elnur Soltanov emphasized the necessity of USD 200 billion in investment to attain net zero carbon emissions in Azerbaijan. Speaking at the Sustainable Development Goals Dialogue under the theme "Sounds of the Future: Climate Action and Coordination of Efforts Towards Global Goals," Soltanov pointed out the economic benefits of transitioning to a greener economy, noting that it would lead to an increase in net income for the country. According to Azeri-Press news agency, Soltanov stressed the importance of addressing key issues within the framework of COP29. Despite Azerbaijan's relatively small share in the global economy, significant financial resources are needed for the green transition. Soltanov highlighted the critical role of national climate commitments and announced plans to present an ambitious climate action strategy.

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