BAKU, Azerbaijan, November 15. Tajikistan will use eight percent of its energy potential with the construction of the Rogun hydropower plant, Tajikistan's Energy and Water Resources Minister Daler Juma said at the COP29 Energy Transition Investment Forum for Central Asia, Trend reports.
"Tajikistan is among the six leading countries in the world in
terms of hydropotential; however, statistics show that only four
percent of this potential is utilized. With the launch of the Rogun
hydropower plant, this figure will increase to eight percent. The
Rogun project implies not only mixed financing but also significant
government investments," he noted.
He emphasized that efforts and attraction of foreign direct
investment are needed to increase the level of hydropotential
utilization.
"I am pleased to see here representatives of our international development partners who support the attraction of such investments. We are confident that the use of hydropotential will be useful not only for Tajikistan but will also become one of the factors contributing to the fulfillment of our regional commitments. By regional commitments, I mean Central Asia and Azerbaijan in the context of the Paris Agreement,” he added.
The opening of COP29 took place on November 11 in Baku's Olympic Stadium and will continue until November 22. It is the largest event organized by Azerbaijan to date, and the first time in the region that it is being held in Azerbaijan.
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.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel