Azerbaijan to play important role as COP29 chair - environmental policy professor

Azerbaijan has a very important role to play in his COP29 presidency, Dean a.i. and Professor of Energy and Environmental Policy at the Fletcher School, Tufts University, Kelly Sims Gallagher, told reporters on the sidelines of the Asian Development Bank's (ADB) 57th annual meeting in Tbilisi.

"Azerbaijan has a very important role to play in his COP29 presidency to make sure that we reach a positive decision on the new quantitative climate finance target," she said.

Gallagher believes that it is necessary to look for new creative solutions to climate finance.

"So it's not only operationalizing the existing funds; we also need each country to think about how they can contribute to global finance. So that can be done through meeting this new quantified goal, but it also could be done through nationally determined financial contributions," she said.

To note, the theme of the 57th ADB Annual Meeting in Tbilisi, which runs from May 2 through May 5, is "Bridge to the Future".

The inaugural session of the Board of Governors is scheduled for May 4, marking the official commencement of the annual meeting. Distinguished guests from the host country will be in attendance. ADB President Masatsugu Asakawa and Georgia's Minister of Finance and Chairman of the ADB Board of Governors, Lasha Khutsishvili, will deliver statements.

The annual meeting provides ADB Governors with a platform to address developmental issues and challenges confronting the Asia-Pacific region. The event typically attracts several thousand participants, including finance ministers, central bank governors, senior government officials, private sector representatives, members of international and civil society organizations, youth, academics, and media personnel.

News.az