At COP29, the Presidency collaborated with the State Oil Fund of the Republic of Azerbaijan (SOFAZ) and the International Forum of Sovereign Wealth Funds (IFSWF) to explore the role of sovereign wealth funds (SWFs) in financing the global energy transition, with an emphasis on developing markets. The discussions centered around innovative financial tools and robust governance frameworks that can attract and channel investments into climate-positive projects, reinforcing the importance of strategic funding for sustainable energy solutions.
In parallel, ministers from countries under the Asian Development Bank (ADB)-led Central Asian Regional Economic Cooperation (CAREC) Program officially launched the CAREC Partnership for Climate, Innovation, and Trade. This initiative is set to enhance collaboration among CAREC nations, fostering smart, technology-based strategies to advance sustainable regional trade and promote eco-friendly economic development.
