“The COP29 agreement reached in Baku, which foresees $300 billion per year, can be regarded as one of the best outcomes of recent years. Efforts should now focus on encouraging more countries to fulfill their commitments and actively engage in the process,” said Mukhtar Babayev, Representative of the President of Azerbaijan for Climate Issues; President of COP29, in his remarks at the panel session titled “Towards COP31: Enhancing Climate Action in an Era of Geopolitical Changes” held as part of the 5th Antalya Diplomacy Forum.

Highlighting the importance of attracting more partners, participants, and contributors to the climate financing process, Mukhtar Babayev emphasized: “Unfortunately, in platforms such as the IMF, climate issues are not among the top priorities. At present, international financial institutions and multilateral development banks are focusing more on other areas, while climate financing remains in the background".