Azerbaijan’s Prime Minister Ali Asadov, during the plenary session of the Third United Nations Conference on Landlocked Developing Countries (LLDC3), held August 5–7 in Awaza, Turkmenistan, drew attention to the serious environmental challenges facing the Caspian region, in particular the ongoing decline in the Caspian Sea level.

“It is important to emphasize the significance of joint efforts by the Caspian littoral states to address common environmental challenges. At the Sixth Caspian Summit held in Ashgabat in 2022, President of Azerbaijan Ilham Aliyev specifically highlighted the issue of the Caspian Sea’s shrinking. In line with the president’s initiative, steps are being taken to establish expert groups to study the causes of this process and develop measures to mitigate it,” the Prime Minister emphasized.

He also noted that at the COP29 UN Climate Change Conference held in Baku, an agreement was reached to increase the annual amount of climate finance for developing countries—from $100 billion to $300 billion by 2035.

“In accordance with Article 6 of the Paris Agreement, Azerbaijan has successfully completed negotiations on the carbon market mechanism and ensured its implementation nine years after the adoption of the agreement. At the same time, a decision was made to fully launch the Loss and Damage Fund to provide substantial support to vulnerable communities affected by climate change,” Ali Asadov noted.