BAKU, Azerbaijan, June 28. Azerbaijan is at the
forefront of the fight against climate change, and the Asian
Development Bank supports all its actions at the national level as
COP29 chair, ADB’s President Masatsugu Asakawa said during a speech
at ADA University on June 28, Trend reports.
According to him, Azerbaijan is a significant player in
discussing environmental and climate issues and making important
global decisions.
“The young generation can be climate champions in UN climate
change conferences, and this is logical as climate change directly
affects the future,” the ADB’s president noted.
He noted that the upcoming COP29 in November is a crucial
platform to gain and share experiences on how to tackle climate
challenges.
“Unless urgent action is taken, global temperatures could rise
by 1.8–2.2 degrees Celsius, increasing risks to livelihoods,”
Asakawa opined.
He advocated for more climate finance, which was discussed at
COP28 in Dubai and will be the focus of COP29 in Baku and COP30 in
Brazil.
“ADB pays great attention to lending to projects aimed at
protecting the environment,” the head of the bank said.
To note, ADB’s assets amount to about $300 billion. The volume
of financing programs implemented within the framework of
cooperation between Azerbaijan and the Asian Development Bank (ADB)
amounted to $4.2 billion as of the first of April this year.
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