BAKU, Azerbaijan, April 3. The decision to hold COP29 (the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change) in Baku reflects global support for Azerbaijan's green energy policy, the country's Minister of Finance Samir Sharifov said, Trend reports.
He made the remark during a meeting with the Director General of the Central and West Asia Regional Department of the Asian Development Bank (ADB), Eugene Zhukov, who was visiting Azerbaijan.
The meeting held consultations on the current state and future directions of cooperation between Azerbaijan and the ADB; future project financing programs based on the sustainability of economic development in the country; and government priorities were discussed.
Sharifov noted that the expansion of the use of green energy sources has been identified as a new priority direction in national energy policy.
The minister was also extensively informed about the current work within Azerbaijan's Socio-Economic Development Strategy for 2022-2026, rapid reconstruction, and construction efforts aimed at ensuring the return of former IDPs to the liberated territories.
He highlighted the government's interest in cooperation with the ADB on transportation projects, railway infrastructure, and renewable energy and the advisability of discussions in this direction with relevant government structures.
Noting that this year marks the 25th anniversary of the start of cooperation between the Government of Azerbaijan and the ADB, Sharifov said that over the past period of successful partnership, Azerbaijan has gained the bank's strategic support in all areas of development.
Zhukov wished the government success in its activities and emphasized that the ADB is interested in expanding ties with Azerbaijan, particularly expressing interest in providing financial and technical support for the implementation of new projects in accordance with government priorities.
He pointed out ongoing efforts to develop another three-year partnership strategy between the ADB and Azerbaijan.
Highly appreciating Azerbaijan's selection as the host country for COP29 in November of this year, the ADB representative said that this is the result of successful policies implemented in the field of green energy in the country and expressed readiness to provide necessary technical and organizational support for the successful conduct of this prestigious event.
During the meeting, the parties also discussed other mutually interesting issues.
Azerbaijan will host the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) this November. This decision was reached during the COP28 plenary meeting held in Dubai on December 11, 2023. In less than two weeks, Baku is poised to become the epicenter of global climate discussions, welcoming an estimated 70,000 to 80,000 foreign delegates.
The UN Framework Convention on Climate Change, established during the Earth Summit in Rio de Janeiro in June 1992, aims to avert perilous human interference with the climate system. COP, an acronym for Conference of Parties, signifies the highest legislative authority overseeing the Convention's implementation. Currently, 198 nations are parties to the Convention. By default, COP sessions are convened annually, unless otherwise decided by the participating parties. The inaugural COP convened in March 1995 in Berlin, with its secretariat headquartered in Bonn.
As Azerbaijan prepares to host COP29, it assumes a pivotal role in advancing global efforts to address climate change, underscoring the urgency and importance of international cooperation in combating environmental challenges.
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