BAKU, Azerbaijan, November 19. A meeting was held between Azerbaijan's Energy Minister Parviz Shahbazov and Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Haitham Al-Gais within the framework of COP29, the ministry said, Trend reports.
It was noted that Secretary General Haitham Al-Gais expressed support for Azerbaijan's presidency of COP29 and spoke about the events he took part in within the framework of COP29. The Secretary General also noted that Azerbaijan plays a constructive role in regulating the global oil market.
The meeting discussed global trends in the energy market, prospects for the oil industry, the importance of reducing emissions and investing in the implementation of new technologies to achieve "clean energy".
The renewable energy projects implemented by countries represented in the OPEC Plus format and the contribution of these cooperative relationships to the Green Energy Partnership were reviewed. In particular, the participation of the UAE and Saudi Arabia in renewable energy projects in Azerbaijan and Central Asian countries was noted.
The importance of mutual cooperation in ensuring the stability of the energy market was emphasized and the importance of continuing such dialogues was emphasized during the conversation.
To note, the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), which will last until November 22, was 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.
The main expectation from COP29 is to agree on a fair and ambitious New Collective Quantitative Goal (NCQG) on climate finance.
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) means “Conference of Parties” and is the highest legislative body overseeing the implementation of the Framework Convention on Climate Change.
A whopping 198 countries have thrown their hats in the ring as parties to the Convention. Unless the parties decide to change the game plan, COP takes place once a year. The inaugural COP event took place in March 1995 in the bustling city of Berlin, Germany, with its secretariat nestled in Bonn.
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