BAKU, Azerbaijan, November 15. Azerbaijan attaches great importance to cooperation with Central Asian countries in the implementation of regional projects in the field of renewable energy, Azerbaijani Energy Minister Parviz Shahbazov said at the COP29 Energy Transition Investment Forum for Central Asia, Trend reports.
“In recent years, Central Asian countries have been implementing significant projects aimed at utilizing the region's abundant renewable energy resources and critical minerals needed for the energy transition. Azerbaijan attaches great importance to cooperation with Central Asian countries in the realization of regional renewable energy projects. In this context, we have initiated cooperation on a strategic initiative to realize the Central Asia-Azerbaijan Green Energy Corridor. This initiative is aimed at strengthening the role of our countries in the green energy transition and strengthening energy security. These efforts create attractive opportunities for international investors,” he said.
The opening of COP29 took place on November 11 in Baku's Olympic Stadium and will continue until November 22.
As part of COP29, the highest-level event, the World Leaders' Summit on Climate Action, was held on November 12-13.
The main expectation from COP29 is to agree on a fair and ambitious New Collective Quantitative Goal (NCQG) on climate finance.
In addition to being a top priority that creates the conditions for action, creating climate finance will also help fulfill the 1.5°C pledge by bringing everyone together.
The UN Framework Convention on Climate Change is an agreement signed at the Rio Earth Summit in June 1992 to prevent dangerous human interference in the climate system. The acronym COP (Conference of Parties) stands for “Conference of Parties” and is the highest legislative body overseeing the implementation of the Framework Convention on Climate Change.
A total of 198 countries are parties to the Convention. Unless otherwise decided by the parties, COP is held annually. The first COP event was held in March 1995 in Berlin, and its secretariat is based in Bonn.
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