Azerbaijan’s Minister of Foreign Affairs Jeyhun Bayramov participated in and delivered a speech at an informal ministerial dialogue on the New Collective Quantified Goal (NCQG) on climate finance on the sidelines of the 79th United Nations General Assembly on September 27.

The dialogue organized by Azerbaijan’s COP29 Presidency brought together Mukhtar Babayev, Azerbaijan’s Minister of Ecology and Natural Resources, COP29 President-Designate; Simon Stiell, Executive Secretary, United Nations Framework Convention on Climate Change, as well as high-level representatives from various countries and members of COP29 negotiation groups.

Speaking at the event, Minister Bayramov elaborated on Azerbaijan's priorities and initiatives under its COP29 presidency, and negotiation process on NCQGs.

He emphasized Azerbaijan’s commitment to inclusivity and collaboration, working closely with all stakeholders involved in the process. Highlighting the importance of mobilizing financial resources to combat climate change, Bayramov called for the involvement of the private sector and multilateral financial institutions to support the Global South's climate action efforts.

Minister Bayramov underscored the significance of reaching an agreement on the New Collective Quantified Goal for Climate Finance, considering it one of the most critical elements in addressing the climate change threat. He urged all negotiating parties to adopt a constructive approach in order to mobilize global efforts against climate change.

Jeyhun Bayramov said that Azerbaijan’s COP29 presidency has been focused not only on supporting the 14 core initiatives and goals but also on ensuring the necessary tools are in place to achieve them.

Bayramov emphasized that the country’s approach to climate-focused development considers the needs of the most vulnerable populations.

The event continued with the discussions on the New Collective Quantified Goal.