BAKU, Azerbaijan, July 3. Azerbaijan and the world as a whole need the private sector's assistance in finding effective solutions to the common challenges of combating climate change, President of COP29 and Minister of Ecology and Natural Resources Mukhtar Babayev said in a video address to the participants of the ESG Summit: Public-Private Partnership (PPP) for Sustainable Development Goals (SDG) in Baku, TurkicWorld reports.
"Working together, we can foster a collaborative environment where public and private organizations share ideas, strategies, and best practices for ESG implementation. Private companies should take responsibility for addressing current climate challenges," Babayev emphasized.
The minister stressed the importance of selecting reliable energy transition pathways supported by robust financial plans, budgets, and targets.
"We hope that companies will participate in COP29 to showcase how they allocate capital and ensure that investment decisions align with our climate change goals. Let's initiate green capital markets to develop viable economic models. Sustainable development and a sustainable future hinge on this," he added.
