BAKU, Azerbaijan, May 24. Africa plays a pivotal and exclusive role in the context of climate finance, an independent member of the Milli Majlis (Parliament) of Azerbaijan and UN Climate Change High-Level Champion for COP29 Nigar Arpadarai said, addressing the Africa CEO Forum in an online format, Trend reports referring to Arpadarai's speech on social media.
She emphasized that the advancement of the private sector and its leadership in tackling climate change are now more pertinent than ever in accomplishing the Sustainable Development Goals (SDGs) and facilitating the global energy transition.
The Champion for COP29 noted that there has been ongoing engagement with African companies during the Conferences of the Parties to the UN Framework Convention on Climate Change since COP27.
“The ongoing dialogue with African business leaders is an integral component of the COP29 preparatory process, and we are pleased to have these consultations included.
Africa possesses the potential to pioneer innovative projects aligned with the five primary objectives of the SDGs. The private sector plays a pivotal role in advancing green technologies and fostering an inclusive, sustainable future,” said Arpadarai.
She mentioned that the COP29 presidency team is actively exploring climate solutions for Africa by engaging in discussions on climate finance mechanisms.
Overall, as highlighted by the UN Climate Change High-Level Champion, there are 127 promising projects, each with an innovative component crucial for addressing the impacts of climate change globally.
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 Berlin, and its secretariat is located in Bonn.
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