COP29 Champion: Transitioning to 'Green Economy' to unlock significant business opportunities

Nigar Arpadarai, the Climate Change High-Level Champion for COP29, emphasised that climate change is an immediate and pressing issue affecting millions globally, not just a problem for the future, Azernews reports.

Speaking at the conference on "The Role of Small and Medium-Sized Businesses in the Green Economy," Arpadarai stressed the necessity for both states and individuals to actively combat climate change.

Arpadarai highlighted that the effectiveness of global climate action hinges on robust dialogue between governments and other stakeholders, particularly the private sector. "The main topic of COP29 is climate finance, and the role of the private sector in this area is crucial and increasing," he noted. He underscored the importance of fostering cooperation between public and private financial resources to mitigate climate change impacts effectively.

He also pointed out that the private sector needs to take the initiative by introducing new technological solutions and investing in sustainable infrastructure and climate projects. "The transition to a green economy presents significant business opportunities despite the accompanying challenges. The COP29 Presidency team is committed to involving the private sector in global climate action and continually engaging with both large corporations and small and medium-sized enterprises on adapting to and capitalising on the green economy," Arpadarai added.