BAKU, Azerbaijan, November 12. Starting next year, Azerbaijan will introduce a new social welfare package, Minister of Labor and Social Protection Sahil Babayev told reporters at the COP29 platform, Trend reports.
"As you are aware, President Ilham Aliyev has announced plans for a new social package to be implemented in Azerbaijan starting next year. This initiative includes increases to both the minimum wage and minimum pensions. Proposals related to these changes have already been developed and are currently being considered as part of the relevant state budget discussions.
I anticipate that details regarding these increases will be disclosed once the state budget discussions are finalized. It would be premature to make any announcements before these discussions are complete.
Each year, there is a rise in both the subsistence minimum and the need criteria in our country, which in turn influences the thresholds for social assistance, as well as the minimum wage and pensions. These elements are all integral components of the upcoming social package. Once the overall parameters of the state budget are approved, I believe we can expect specific figures to be announced," the minister noted.
The 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), which will run until November 22, opened today at the Baku Olympic Stadium. The event is the largest organized by Azerbaijan to date and is the first time the region has hosted the event in Azerbaijan.
Within COP29, the highest level event - the summit of world leaders on climate action - will be 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.
The COP29 chairmanship has launched 14 initiatives that include linkages between climate action and the Sustainable Development Goals, including green energy corridors, green energy storage, harmony for climate resilience, clean hydrogen, methane reduction in organic waste, action on green digital technologies, and other topics.
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 located in Bonn.
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