While an agreement on climate finance was eventually reached in Baku, many poorer countries were outraged
The Lamborghini showroom and a Tiffany branch sit at either end of Baku’s long boulevards beside the Caspian Sea. Adorned with grand 19th-century mansions, all plaster nymphs and columned facades, that were built by the first oil millionaires, they are a testament to the enduring power of fossil fuels. Oil has been very good to Azerbaijan.
It flows out of the ground here, and gas has seeped out, ignited and burned naturally in the area for so long that the country’s symbol is a flame and its nickname is the Land of Fire. Baku was the world’s first oil town, with wells exploited as early as the 1840s. Ilham Aliyev, the autocratic president, calls oil and gas “the gift of God” to his people. They represent 90% of Azerbaijan’s exports.
