#Azerbaijan has announced a $1bn fund to invest in #ClimateAction projects in the #DevelopingWorld, to help #VulnerableNations build resilience to #ClimateChange risks, including #floods and #droughts.

This was announced as a prelude to the UN Climate Change Conference #COP29 – being held in November this year – by COP29 President-Designate Mukhtar Babayev at a news conference on Friday.

The #Climate #Finance #ActionFund #CFAF will be capitalised with contributions from #FossilFuel producing countries and companies across #oil, #gas and #coal, and Azerbaijan will be a founding contributor, he said.

https://www.dawn.com/news/amp/1846748

#Geopolitics #Environmental #EcoJustice #EcoFinance #ClimateFunding #ClimateCrisis #GlobalSouth #EnvironmentalAction