Baku, November 15, AZERTAC

“The issue of climate finance and Azerbaijan's significant role in this field is a key focus at the COP29 conference,” Professor Mark Howells, Director of the Climate Compatible Growth Programme at Loughborough University in the UK, told AZERTAC.

Mark Howells hailed Azerbaijan’s high-level organization of COP29. "The productive meetings held at COP29 create a very favorable environment for implementing these initiatives," he said, emphasizing that COP29 stands out from other climate conferences because of its focus on turning ambitions into reality.

“There are significant obstacles in climate finance. Despite the availability of financial resources, it is challenging for countries to structure investment plans and transform them into cost-benefit analyses that can be accepted at the government level. A lot of work is being done to simplify this process because many climate investments are actually very cost-effective," he added.

He also highlighted the overarching theme of "Data to Deal” (D2D). “This initiative covers all stages, from gathering data and conducting analysis to aligning policies, performing cost-benefit analyses, and attracting financial support for projects through collaboration with financial institutions.” The academic stressed the importance of involving local experts in these processes. “It is crucial that all of this is managed by local people, so we are working on converting local knowledge into policies, plans, and business agreements," Howells noted.

In response to a question about the organization of COP29, Howells said: “The event's venue is very accessible, and the volunteers helping participants have been a great support. It is easy to find everything at this event venue, and there are helpers at every corner guiding you. This creates a very pleasant environment."