The transition to a low-carbon economy creates significant investment opportunities, especially for the private sector, and risk mitigation tools can effectively accelerate private capital mobilization by both domestic and foreign investors, Aliya Azimova, representative of the IFC in Azerbaijan said at the event titled “Raising Ambition, Delivering Action: COP29 Sustainable Business Forum”, Report informs.

According to her, international financial organizations can have a big role in this: “Besides, increasing the ability to identify green assets, developing standard criteria for green projects and applying mixed financial instruments can also strengthen longer-term green financing.”