Azerbaijan to start climate fund with $500mn of oil money

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The story "Azerbaijan to start climate fund with $500mn of oil money" was covered 2 weeks ago by Financial Times, a news publisher based in United States.

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Financial Times 2w ago

Azerbaijan to start climate fund with $500mn of oil money - Financial Times

Quick Summary:

But this push has been met with fierce resistance on the grounds that the historical emissions behind climate change had been for the benefit of the wealthier economies.

Several diplomats and negotiators have privately expressed concerns that Azerbaijan, which relies heavily on oil and gas revenues, is fundamentally reluctant to address the question of how to shift away from fossil fuels.

The stalemate has left UN climate negotiators frustrated about the prospects for climate targets at COP29 to be upgraded to tackle the consequences of global warming.