COP29 host Azerbaijan launches climate fund and imposes tariffs on fossil fuels.
International
At COP29, Azerbaijan launched a climate fund and imposed a levy on fossil fuels derived from organic matter. This initiative aims to finance climate change mitigation and adaptation efforts domestically and internationally. The move underscores Azerbaijan's commitment to addressing environmental challenges and promoting sustainable development at a global level.
The fund will focus on sustainable energy projects to reduce reliance on fossil fuels.
International partnerships will be sought to enhance technological innovation and expertise in the energy sector.
Prime minister: Ali Asadov
Currency: Azerbaijani Manat
____________________________
