Professor Vusal Gasimli,  Executive Director of the Center for Analysis of Economic Reforms and Communication participated in the international conference titled “Future Synergies Between Climate and Development,” organized by the Asian Development Bank Institute in Bangkok, Thailand.

During his speech, Vusal Gasimli emphasized the importance of global think tanks focusing more on key challenges such as deglobalization, natural disasters, technological revolutions, and the debt crisis.

He highlighted that a new global target of $1.3 trillion has been set for climate financing by 2035. This includes a core target of $300 billion—tripling the previous commitment of $100 billion. One of the major outcomes of COP29 held in Baku was the full operationalization of the Loss and Damage Fund.

Another achievement of COP29 in Baku was the successful conclusion of long-standing negotiations on Article 6, which covers carbon markets.

The international conference in Bangkok served as a preparatory event for the upcoming Global Think Tanks Collaboration Meeting, which will take place this September in New York as part of the Summit of the Future. This initiative continues the “Common Agenda for Global Cooperation” launched two years ago by T20/T7—the think tanks of the G20 and G7.

The conference brought together leaders of global think tanks, researchers, representatives from international financial institutions, government officials, and heads of philanthropic organizations.

It is worth noting that the Center for Analysis of Economic Reforms and Communication is not only representing Azerbaijan on the think tanks platform of the G20 but is also recognized as one of the leading institutions representing the Central Asia and Middle East regions.