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Ulviyya Shahin

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The UN Economic Commission for Europe and the United Nations High-Level Champions for Climate Change have launched advanced clean energy projects in the Western Balkans, Central Asia, the Caucasus, and Eastern and Southeastern Europe, Azernews reports, citing the announcement made on the official website of the UN Economic Commission for Europe.

It was noted that these projects will be presented to state and private investors at the upcoming financial forum and will be showcased at COP29 in Baku.

Selected projects will initially be presented at the III European Regional Finance Forum, scheduled to take place in Hamburg on October 9, 2024. The forum aims to strengthen cooperation between public and private sector financiers and project developers, with a special focus on the transition to sustainable energy. The event will bring together industry leaders, regional development finance institutions, commercial lenders, sovereign wealth funds, private equity providers, and philanthropists.

The article highlighted that finance is a crucial factor in the energy transition. Promoting multiple climate projects is essential for mobilising capital: "However, this requires more efficient ecosystems and collaboration between policymakers, financiers, project developers, and technical assistance providers. Among the priority projects selected for COP28 from this broad region, four projects were approximately 55% partially financed."

The III European Regional Finance Forum will also explore investment opportunities in areas such as clean energy, energy efficiency, waste-to-energy, industrial decarbonisation, and sustainable transport. Discussions will emphasise the critical role of raw materials like lithium, nickel, copper, and rare earth elements in enabling a successful low-carbon transition and advancing clean energy solutions.

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