S. Caucasus countries lose up to $100 mln a year because of climate change - WB

BAKU. Nov 14 (Interfax) - Climate change implications put an extra financial burden on the South Caucasus countries, prompting them to lose around $100 million a year, World Bank Regional Director for the South Caucasus Rolande Pryce said on the sidelines of the United Nations Climate Change Conference (COP29) in Baku on Thursday.

The World Bank supports the South Caucasus countries in their transition to green energy, Pryce said.

De-carbonization in those countries is slowed down by a number of factors, among them the insufficient use of renewable energy and preference given to conventional energy sources in the transport sector and heating systems, she said.

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