BAKU, Azerbaijan, July 23. Azerbaijan and the UN have discussed investments in business solutions in line with the goal of achieving 'Net Zero', Trend reports referring to the Ministry of Economy of Azerbaijan.
According to the ministry, Minister of Economy Mikayil Jabbarov held meeting with UN Special Envoy for Climate Action and Finance and co-chair of the Glasgow Financial Alliance for Achieving 'Net Zero' Mark Carney.
“The meeting highlighted the importance attached in Azerbaijan to measures to combat climate change, protect the environment and create alternative energy sources.
The parties discussed the active position of Azerbaijan in addressing global economic problems as the host of the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), investment in business solutions with a view to reaching the net zero level, as well as the possibility of potential partnership within the framework of COP29.
There was an exchange of views on the agenda of cooperation, including economic issues in the sphere of sustainable development and combating climate change," the statement of ministry said.
To note, the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) will be held in Azerbaijan in November this year. The decision was made at the plenary meeting of COP28 held in Dubai on December 11 last year. Within two weeks, Baku, having become the center of the world, will host about 70,000–80,000 foreign guests.
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, which 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 the parties have decided otherwise, 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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