Overview

• Azerbaijan's fund seeks contributions from fossil fuel nations and companies to finance climate resilience projects.
• The initiative replaces a previously considered levy on fossil fuel production.
• Critics argue the voluntary nature of the fund may limit its effectiveness and accuse it of greenwashing.
• The fund will be based in Baku and overseen by a board of contributing countries and companies.
• No other countries have committed to the fund yet, and Azerbaijan has not specified its own contribution.