BAKU, Azerbaijan, November 15. A high-level meeting aimed at catalyzing collaboration in climate initiatives and sustainable growth was convened under the auspices of COP29, Trend reports.
The event, put together by the Center for Analysis and Coordination of the Fourth Industrial Revolution (C4IR) under the Ministry of Economy and the Network of Fourth Industrial Revolution Centers of the World Economic Forum (WEF), gathered a motley crew of leaders from different sectors.
Senior officials and leaders from more than 70 local and international companies attended the gathering.
Jim Hui, Managing Director of the WEF and Head of the Nature and Climate Center, welcomed participants and emphasized the importance of leadership in achieving sustainable future goals and zero emissions.
The meeting, which also included senior officials and experts from the WEF’s Center for Nature and Climate, focused on strategic cooperation in energy transition, natural resource management, and strengthening climate action. The session highlighted key initiatives aimed at enhancing Azerbaijan's role in combating climate change and meeting emissions reduction targets.
A session titled "From Ambition to Action: Collaborating for Climate Solutions and Policies" was also held as part of the event.
The discussions concluded with a session exploring: "What innovative partnerships and investments must be scaled up to achieve a zero-emission, nature-positive, and socially just future?"
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. 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 - 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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