UN official calls for innovative financial tools to address climate crisis at Baku Forum

The world needs the latest financial instruments to solve climate problems.

Vladanka Andreyeva, UN Resident Coordinator in Azerbaijan, made this statement during her speech at the International Forum on Sustainable Development and Climate Innovation in Baku, Azernews reports.

"If we don't protect our ecosystem now, we won't be able to protect our future either. The world needs the latest innovations and financial tools to achieve the upcoming global goal of Net Zero and address urgent climate problems," Andreyeva said.

She emphasised that reducing emissions is crucial in key sectors of the economy, including industry, transport, and construction.

"The UN supports collective efforts and projects to achieve these goals. Climate change involves and affects everyone, so it is necessary to foster global dialogue and develop innovative solutions," she added.

It should be noted that the International Forum on Sustainable Development and Climate Innovation, organized by the British Chamber of Commerce (BCCA), has begun in Baku with the support of the British Embassy, the Great Challenge Fund, the UN Azerbaijan Representation, and the John Patterson Events company.

The main topics of the event are: 1) The latest innovations in the business world, including carbon capture, energy transfer, Net Zero in construction and housing, green hydrogen, and digital development. 2) ESG in transport and urban transport systems. 3) The index of smart cities.