(Bloomberg) -- International Monetary Fund chief Kristalina Georgieva won’t attend the UN climate summit in person for the first time in four years despite its focus on rallying global financing to help poorer countries adapt to climate change.
Georgieva will join the climate summit in Baku, Azerbaijan virtually. She’ll be traveling to Peru for an Asia-Pacific Economic Cooperation forum followed by a Group of 20 leaders summit in Brazil, a fund spokesman said Wednesday in response to questions.
A number of high-profile attendees from business and politics are also expected to skip next month’s United Nations’ conference taking place in Baku, Azerbaijan. Georgieva’s decision not to be there in person is notable given her focus on climate issues, particularly as international financial institutions have been under pressure to do more in the fight to tackle climate change.
The IMF’s delegation on the ground will be lead by Deputy Managing Director Bo Li.
Georgieva attended the three previous climate summits, including last year’s COP28 conference in Dubai.
Talks next month will focus on boosting climate finance to developing countries from an existing $100 billion-per-year target to a goal potentially in the trillions of dollars.
Mia Mottley, the prime minister of Barbados, has spearheaded an effort to reform the global financial architecture under the “Bridgetown Initiative,” while talks at the COP29 summit will include a push to get multinational development banks such as World Bank to provide more concessional finance globally.
--With assistance from Ramsey Al-Rikabi.
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