BAKU, Azerbaijan, November 15. Azerbaijan, participating in regional projects for the development and export of renewable energy sources, creates unique opportunities to step up global clean energy development, the country's Energy Minister Parviz Shahbazov said during a press conference at COP29 today, Trend reports.
He pointed out that Azerbaijan held the ninth meeting of energy ministers on the Caspian-European Green Energy Partnership, where the preliminary results of projects were discussed.
"This is a good start for addressing important issues, and we are making very good progress on this matter. At the same time, an agreement on strategic partnership in energy development and transmission was signed between the governments of Azerbaijan, Kazakhstan, and Uzbekistan at the level of free country residents. Additionally, documents were adopted to ensure the participation of Saudi Arabia as a key partner in this trilateral project.
Yesterday, Azerbaijan announced its hydrogen strategy and signed a memorandum of understanding with international agencies on atomic energy to cooperate in energy planning within the framework of the current sector," added the minister.
To note, 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 at the Baku Olympic Stadium on November 11. It is the largest event organized by Azerbaijan to date, and the first time in the region that it is being held in Azerbaijan.
Within COP29, the highest level event - the summit of world leaders 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. 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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