12:40 - 10.06.2024

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June 10, Fineko/abc.az. The transition to "green" technologies requires significant financial investments.

ABC.AZ reports that Milli Majlis MP, UN High-Level Leader on Climate at COP29 Nigar Arpadarai said about this during an event in Baku on the theme "Sustainable development: problems & solutions".

She recalled that the topic of COP29 is climate finance.

"The transition to green technologies is expensive, and trillions of dollars are needed to implement these processes in a green economy. The question arises: where will these finances come from and what will be the mechanisms for financing them? We are already seeing the effects of climate change. Personally, for example, I did not realize the severity of the problem before I joined the COP process. Finding yourself in the current situation, you realize that the world is diverse, but at the same time small. On the other hand, we see the problems that different peoples face. For example, small island States declare an existential threat, which means that they are on the verge of extinction. Discussions are underway, but decisions are still being made," Arpadarai said.

She added that the level of awareness of the problem is growing, and this does not allow us to move to the next level without decisive action.

"There is an acute problem in this regard. For example, we see a decrease in the level of the Caspian Sea. Other countries also have serious environmental problems. If you look at the disasters that have occurred this year, it becomes obvious how serious they are. The responsibility for making decisions is great, if we fail to make them, these disasters will only worsen. Scientists are already seeing these problems, and we are also observing them. This is not a theoretical discussion about stability, this is a very serious reality," Arpadarai emphasized.