At the sidelines of COP29, James Leather, Director of the Emerging Areas Transport Sector Office at the Asian Development Bank (ADB), shared his insights to Azernews on global climate initiatives, the role of transport in sustainable development, and opportunities for green financing in Azerbaijan and beyond.

When asked about the significance of COP29 initiatives, Leather emphasized its collaborative importance:
"It's a great opportunity to bring all the world together to discuss a critical issue on climate issues, climate mitigation, climate adaptation. Today is Transport Day, which is my background. So it's been a very busy day, looking at all different forms of transport... it's very rare opportunities when all those experts come together, talk to the governments about what the future could look like. But we need to talk. Talk is one thing, but talk and then follow that up with actions. I'm from a bank, so we can help finance that as well."

Discussing the climate finance gap, Leather underscored the need for innovation:
"The infrastructure gap in Asia and the Pacific, the region that the Asian Development Bank looks at, is so large. And I don't think climate finance will be able to plug all of that. What I would say is that it can be used in a very catalytic way. We can prove concepts and invest in those early advantages until they become much more mainstream... The more research, the more investment, the lower the price, the more people demand those areas as well."

Addressing Azerbaijan's climate finance initiatives, Leather highlighted ongoing collaboration:
"We've been using ADB support on the railway here. So ADY, the Azerbaijan Railway, we've been providing support, and the latest collaborative work we're looking at is on decarbonisation for the organization. Not just in terms of the electrification of the railway and the net zero for the railway itself, but the land holdings and other aspects of rail that could potentially provide clean energy sources."

On transforming the Middle Corridor into a green corridor, Leather noted the importance of long-term investments and multimodal transport solutions:
"The growth in demand between Asia and Europe and within the region itself will continue to grow. One of the big concerns I have is that the demand for that movement of freight or even passengers is far outstripping any investments that are being made. What we do need to position ourselves is what it's likely, those demands, what will they be in 2050, and start the investments now, but at the scale required to serve those future demands. The Middle Corridor will provide connection from ports to rail to road networks, so we need to look at many different forms of transport... You're only as strong as your weakest link."

Leather’s insights underscore the importance of collaborative approaches, innovative financing, and strategic investments to drive the green transition in transport and beyond.