COP29 Baku: Finance, Investment, and Trade Day focuses on sustainable governance, climate finance

By Nazrin Abdul

Today, COP29’s Azerbaijan Pavilion hosted a packed agenda focused on “Finance, Investment, and Trade,” spotlighting the pivotal role that financial and trade systems play in supporting global climate action.

This thematic day attracted international leaders, financial experts, and policy innovators committed to advancing green governance, sustainable finance, and climate accountability.

Key sessions included:

1. Ministerial Forum on Green Good Governance (3G)

Led by the State Agency for Public Service and Social Innovations, this high-level forum (9:00–11:00) launched discussions on the principles of “green governance,” encouraging governments and institutions to integrate sustainability into public service and administrative frameworks.

2. Where Are Governments with Their Climate Action?

The Chamber of Accounts of Azerbaijan introduced ClimateScanner, an innovative assessment tool providing an accountability framework to track national climate efforts and assess progress (11:30–13:00).

3. Advancing Sustainable Finance

The Central Bank of Azerbaijan presented a roadmap for global comparability in sustainable finance taxonomies (14:00–15:30), aiming to align international investment standards for green projects.

4. Climate Justice and Human Rights

Azerbaijan’s Ombudsman facilitated an impactful session on the intersection of human rights and climate justice (14:00–15:00), emphasizing the protection of vulnerable communities.

5. Climate Finance Initiatives

PASHA Holding led a session on climate finance (16:00–17:00), outlining strategies to mobilize private capital to meet climate goals.

6. Regional Call to Action on Glacial Melting

The Ministry of Ecology, in collaboration with the Asian Development Bank, addressed the urgency of glacial preservation in Central and West Asia, underscoring the climate risks to water resources and regional stability (17:00–18:00).

7. Green Guarantee Group Initiative

In a joint presentation by COP29 co-host Germany, the Green Guarantee Group was introduced to provide financial assurance and boost private sector confidence in climate investments (18:30–19:30).

Today’s events underscored the indispensable role of financial institutions, governance frameworks, and human rights in shaping a resilient global response to climate change. Each session contributed to a larger vision of sustainable development where economic policies, environmental imperatives, and social justice align to achieve a more sustainable world.

About COP29 Azerbaijan Pavilion

The Azerbaijan Pavilion at COP29 provides a platform for global, regional, and local stakeholders to engage in dialogues and partnerships on climate issues, showcasing Azerbaijan’s role as a leader in climate resilience, sustainable finance, and environmental innovation.