BAKU, Azerbaijan, April 11. COP29 will intensify efforts to mitigate climate change, the World Bank (WB) said in its April report, Trend reports.
"Hosting COP29 in November 2024 provides Azerbaijan with an opportunity to strengthen its climate change mitigation and adaptation initiatives. Eliminating distorting fossil fuel subsidies could significantly reduce emissions and accelerate the transition to green technologies," the bank said.
This November, Azerbaijan will host COP29. This decision was made at the COP28 plenary meeting held in Dubai on December 11 last year. Baku will become the center of the world and will receive about 70-80,000 foreign guests.
The United Nations Framework Convention on Climate Change is an agreement signed at the Earth Summit in Rio de Janeiro in June 1992 to prevent dangerous human interference with the climate system. COP- the Conference of the Parties - is the highest legislative body overseeing the implementation of the Framework Convention on Climate Change. There are 198 countries that are parties to the Convention. Unless the parties agree otherwise, the COP is held annually. The first COP event took place in March 1995 in Germany's Berlin, and its secretariat is located in Bonn.