Rafiyev: Practical solutions needed to finance climate action in cities

Accelerating the financing of climate action in cities worldwide requires diverse practical solutions, Yalchin Rafiyev, Deputy Minister of Foreign Affairs of Azerbaijan, said during the roundtable held within the 13th Session of the World Urban Forum (WUF13) in Baku, Report informs.

Rafiyev highlighted that speeding up financing for urban climate action demands approaches ranging from green bonds and climate funds to public-private partnerships and innovative local financing mechanisms: "It also depends on strengthening the capacities of local governance authorities so they can effectively access and apply these resources."

The deputy minister further stated that achieving the Sustainable Development Goals (SDGs) through sustainable housing and urban planning requires stronger multilateral cooperation, coordinated action within the UN system, and effective partnerships at all levels.

"As the host of WUF13, Azerbaijan remains committed to supporting inclusive, sustainable, and resilient urban development. Let us use this forum to strengthen cooperation and accelerate practical actions for better cities and better lives for all," he noted.