Azerbaijan has stepped up playing a pivotal role as the presidency of COP29, leading the charge on urgent global issues exacerbated by climate change. With a steadfast commitment to confronting these challenges head-on, Baku has prioritized directing financial aid towards viable solutions, particularly for vulnerable small island states. This dedicated focus will be further underscored at the upcoming Baku conference.

Recent data highlights a striking statistic: an overwhelming majority—85%—of the $2 trillion allocated globally for transitioning to clean energy and combating climate change has been channeled towards developed economies and China. Economist Rashad Hasanov acknowledges this allocation, noting its alignment with these countries' significant contributions to the adoption of global clean energy solutions.

In his comment to Azernews on the issue, economist Rashad Hasanov stated that he considers it normal to allocate more resources to countries that play a major role in increasing the share of clean energy in global energy consumption.

"However, it should be taken into account that 70-80 percent of the energy currently produced in the world falls under the share of these developed countries plus China. Therefore, the transition of these countries to clean energy significantly contributes to increasing the share of clean energy in global energy consumption."

The expert noted that as countries that are allocated funds are of the developed ones, they tend to spend the financial aid on their own strategies.

"The second point concerns........

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