The COP29 Presidency has proposed a new climate finance goal, addressing the needs of developing nations.
Following extensive consultations, including a Qurultay session, updated texts have been published, aiming to foster consensus among Parties.
Key proposals include scaling up climate finance to developing countries from public and private sources to at least $1.3 trillion annually by 2035. Developed countries would also lead in increasing the collective target from $100 billion to $250 billion annually by 2035.
The Presidency remains committed to inclusive dialogue to finalise the few outstanding issues and achieve ambitious outcomes.
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A court in Baku has ordered four months of pre-trial detention for all eight Russian citizens accused of trafficking drugs from Iran.
Azerbaijan's Interior Ministry has dismantled two criminal groups in Baku, detaining Russian nationals suspected of trafficking drugs from Iran and conducting cyber fraud operations.
A fire that broke out Thursday evening at the 'Azerbaijanfilm' studio in Baku has been brought under control, following an explosion reported in an old pyrotechnics area of the complex.
The two-day Fintex Summit 2025 – Finance and Technologies Expo – has officially opened in Baku, bringing together key players from the financial and tech sectors to explore innovation, digitalisation, and regulatory trends.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
The European Commission is set to propose allowing carbon credits from other countries to count towards the EU’s 2040 climate target, according to a leaked internal document.
Global temperatures in 2024 exceeded the crucial 1.5°C threshold above pre-industrial levels for the first time, marking a serious warning for the world’s climate goals under the Paris Agreement, scientists said.
Wildfires and a severe heatwave sweeping across Europe have claimed the lives of two people in Spain and another two in France, while also causing the shutdown of a nuclear reactor in Switzerland.
Azerbaijan, Kazakhstan and Uzbekistan have established a joint venture to implement the Green Energy Corridor: Azerbaijan–Central Asia project aimed at building infrastructure for clean energy transmission and strengthening a regional energy cooperation.
A Clean Energy Centre will be officially launched during the 17th Economic Cooperation Organization (ECO) Summit, to be hosted by Azerbaijan this week, announced Asad M. Khan, Secretary General of the ECO.
The European Union plans to cut greenhouse gas emissions by 90% by 2040 and, for the first time, allow limited use of foreign carbon credits to meet the target.
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