Azerbaijan launches Climate Finance Action Fund (CFAF) to secure $1bn from fossil fuel producers for climate projects in developing nations, hosting COP29.

Azerbaijan has launched the Climate Finance Action Fund (CFAF) aiming to secure $1bn in financing from fossil fuel-producing countries & companies. Half will fund climate projects in developing nations, promoting sustainable development & reducing emissions. As host of COP29, Azerbaijan seeks to lead in climate action, aligning financial contributions with global environmental goals.