Azerbaijan joins Coalition of Finance Ministers for Climate Action ahead of COP29

The Ministry of Finance of Azerbaijan has officially joined the Coalition of Finance Ministers for Climate Action as a full member, marking a significant step in the country's efforts to address climate change.

"Azerbaijan's entry as a full member of the coalition, the directions of activity of which largely coincide with COP, will make an important contribution to the achievement of results aimed at the presidency of our country in COP29," Caliber.Az reports, citing the Ministry of Finance.

The Coalition, which consists of finance ministers from 92 countries, works in partnership with 26 international organizations that provide technical and advisory support to finance ministries in developing and implementing climate change policies.

Azerbaijan's membership is expected to enhance the country's role in international climate initiatives, especially as it prepares to host the 29th session of the Conference of the Parties (COP29) later this year.

Earlier this year, in April, Azerbaijan's Ministry of Finance participated as an observer in the Coalition's 11th meeting, held during the International Monetary Fund (IMF) and World Bank Group Spring Meetings in Washington, DC. The next gathering of Coalition members will take place in October in Washington, during the annual meetings of the IMF and the World Bank Group.

In addition, a preliminary agreement has been reached to hold a special meeting of the Coalition during the "Finance, Investment and Trade Day" as part of COP29 in Baku this November. This will further solidify Azerbaijan's leadership and commitment to addressing global climate challenges through finance and policy actions.

The Coalition of Finance Ministers for Climate Action brings together fiscal and economic policymakers from over 90 countries to lead the global climate response and secure a just transition towards low-carbon resilient development.

By Khagan Isayev