BAKU, Azerbaijan, February 15. COP29 focuses prominently on climate finance, said Acting Minister of Ecology and Natural Resources of Azerbaijan, President of the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) Mukhtar Babayev, Trend reports.
Babayev made the statement during the forum "Tax System in the New Development Period: Strategic Goals for a Sustainable Economy" held in Baku.
"With the designation of the "Green World Solidarity Year" by President Ilham Aliyev in 2024, Azerbaijan takes center stage. Hosting the renowned COP29 underscores the country's dedication to environmental protection and climate change mitigation. The international community's focus on Azerbaijan highlights the importance of expanded worldwide investments in clean energy and green technology, which are critical for decreasing emissions. To attain these aims, coordination among the government, commercial sector, and civil society is necessary, encouraging inclusive and active engagement from all stakeholders," he said.
The decision to host COP29 in Azerbaijan was officially
announced in Dubai on December 11, 2023.
Besides Azerbaijan, both Armenia and Bulgaria nominated their
candidatures. However, after direct negotiations between the Office
of the President of the Republic of Azerbaijan and the Office of
the Prime Minister of Armenia on December 7, 2023, Armenia decided
to withdraw its candidacy in favor of Azerbaijan. Bulgaria followed
suit and also withdrew its candidacy.
On January 4, 2024, Mukhtar Babayev, Minister of Ecology and
Natural Resources of Azerbaijan, was appointed as President of
COP29.
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