Hon. Josephine Napwon, Minister of Environment, Attends COP29 in Baku, Azerbaijan - Courtesy

The National Minister of Environment has announced that the government is implementing policies to promote renewable energy, focusing on solar and hydropower projects.

Josephine Napwon says these initiatives aim to attract climate finance from international funding sources, supporting efforts to address climate change and advance sustainable development.

Napwon says encouraging private investment is also a priority to improve access to affordable finance and microfinance, particularly in rural areas, which are vital for market development.

However, she says accessing climate finance remains a challenge for developing countries, requiring sustained effort and innovation to overcome barriers.

The National Minister of Environment spoke on Friday, November 15, at the higher-level side event for climate finance needs of developing countries in Africa COP29.

“The government has initiated policies to promote renewable energy, particularly solar and hydropower to attract climate finance from international funding sources,” Napwon said.

“Participation in regional and international agreements like the Paris Agreement can provide access to climate finance for addressing climate change challenges, to conclude strengthening the capacity to develop viable climate finance projects,” she said.

“Attracting expertise and sensitising local communities to attract funding will be necessary,” she stated.

“Private investment should be further encouraged to address the poor access to avoidable finance and microfinance in rural areas, hampering rural and urban market development,” she said.

“The challenges to access climate finance will continue to be challenging for developing countries.”

The environment minister says the growing frequency and severity of climate disasters in the country shows the urgent need for proactive strategies to mitigate their impacts on livelihoods

She added that the financial gaps continue to undermine efforts to attract and implement climate finance for resilience and sustainable development.

“The increasing frequency and severity of these disasters compel us to productively anticipate and plant responses to mitigate climate shocks and disasters and their effects on livelihood,” said Environment Minister.

“They keep finance gaps. Several significant financial gaps hinder the attraction and effective implementation of climate finance for resilience and sustainable development,” she said.

“It’s not easy to assess credit and financial services due to limited banking services in insurance options and investment channels for agriculture. This limitation affects our ability to invest in climate-resilient projects.”

This year, Azerbaijan which has been selected as the Presidency of the 29th Conference of the Parties (COP29) is hosting the event in Baku this month.

The COP29 is expected to come to an end on 22 November 2025.