Azerbaijan Rethinks COP29 Strategy: New Fund Over Fossil-Fuel Levy
Climate / 10.07.2024

Azerbaijan Rethinks COP29 Strategy: New Fund Over Fossil-Fuel Levy

Azerbaijan, host of the U.N. COP29 climate summit, has abandoned plans for a fossil-fuel levy proposal. Instead, it aims to launch a new fund for green investments in developing countries. The revised strategy seeks voluntary contributions from fossil-fuel-producing nations and utilizes public-private partnerships to aid poorer regions in cutting emissions.

Azerbaijan, host of this year's U.N. COP29 climate summit, has announced a shift in its climate funding strategy. Initial plans for a levy on fossil-fuel producers have been scrapped in favor of launching a fund aimed at green investments in poorer n... [1540 chars]

Published by: Devdiscourse

Read full article here: https://www.devdiscourse.com/article/headlines/3012850-azerbaijan-rethinks-cop29-strategy-new-fund-over-fossil-fuel-levy

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