Baku , June 27, 2025 – The Europe Today: Mukhtar Babayev, President of COP29 and Azerbaijan’s Minister of Ecology and Natural Resources, delivered a strong call for accelerated climate action during his participation in two major events at London Climate Week — the Climate and Clean Air Coalition (CCAC) Board Meeting and the World Climate Investment Summit.
Speaking at the CCAC Board Meeting, Babayev addressed the outcomes of the first Global Stocktake, emphasizing the urgency of reducing emissions of methane and other non-carbon greenhouse gases. He underscored the critical importance of these reductions in the global fight against climate change.
Babayev drew attention to the “Baku Declaration on Reducing Methane Emissions from Organic Waste”, presented at COP29, which has already garnered support from 65 countries, representing over 50 percent of global methane emissions. He emphasized the role of the next round of Nationally Determined Contributions (NDCs) in defining future climate priorities and political commitments.
Highlighting the “Baku Finance Goal”, Babayev reiterated the need to mobilize $300 billion annually in climate finance for developing countries. He urged developed nations to take the lead in fulfilling this objective, adding that well-defined NDCs could act as a green light for international donors and private investors to support sustainable initiatives.
Expressing appreciation for the Coalition’s support of COP29 efforts and the methane declaration, Babayev voiced optimism for continued collaboration in the lead-up to the conference.
Later in the day, addressing the World Climate Investment Summit, Babayev stated that the era of climate negotiation has given way to implementation, stressing the importance of turning commitments into measurable action. He reaffirmed that the Baku Finance Goal had been officially adopted at COP29, alongside new rules for high-integrity carbon markets and the introduction of a bold $1 trillion annual climate finance target.
“In this new era, countries will be judged not by their words, but by their actions,” Babayev asserted, highlighting the decisive role of the private sector in mobilizing climate finance.
He also announced that the COP29 and COP30 Presidencies are working together to develop the “Baku-to-Belem Roadmap”, a comprehensive strategy to mobilize $1.3 trillion annually in climate finance for developing countries by 2035.
Babayev concluded by calling on all stakeholders — governments, financial institutions, the private sector, and civil society — to join and contribute to this global effort to deliver on climate action and sustainable development goals.
