IFC reveals areas it finances in relation to sustainable development

15:44 - 17.05.2024

May 17, Fineko/abc.az. The International Finance Corporation (IFC) currently focuses on 5 major systems that together account for more than 9% of global greenhouse gas emissions and face significant adaptation challenges.

ABC.AZ reports that Aliya Azimova, representative of the IFC in Azerbaijan, said about this at the event titled "Raising Ambition, Delivering Action: COP29 Sustainable Business Forum".

She added that this includes energy, agriculture, transport, manufacturing sectors and urban economy: "IFC also directs financing to projects related to the creation of climate-friendly financial systems and greening to ensure an integrated approach to sustainable development."

Azimova noted that globally in 2023, IFC allocated $14.4 billion to projects to combat climate change, which is twice as much as compared to the previous year.