Mukhtar Babayev: Developed countries cutting climate funding for second year in row

Despite commitments to allocate $300 billion annually to climate change for developing countries, developed countries have been cutting climate funding for the second year in a row, Mukhtar Babayev, the Azerbaijani President's envoy on climate issues, said at the General Assembly of the Global South NGO Platform, Report informs.

"Communities across the Global South, including small island developing states, least developed countries, and landlocked countries, continue to face the devastating impacts of rising temperatures, environmental degradation, and extreme weather events," he said.

He noted that despite this, these communities are demonstrating resilience, innovation, and leadership in advancing sustainable solutions.

According to him, wars and conflicts around the world, including those occurring in Azerbaijan's neighboring countries, have serious humanitarian, environmental, energy, and social consequences.

Babayev recalled that since COP29, many countries and international institutions have adopted new commitments, initiatives, and programs on climate finance, but emphasized that commitments alone are not enough, and that implementation is now paramount.

"Developed countries have committed to allocating at least $300 billion annually by 2035 to assist developing countries in their energy transition. Unfortunately, for the second year in a row since this agreement was reached, we have seen a step back from developed countries on [financing issues – ed.]," he stated.

He expressed regret that governments of developed countries are increasing military spending, which, he said, is reducing climate finance.