BAKU, Azerbaijan, September 9. Baku will host Finance, Investment and Trade Day within the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), Executive Director of the Export and Investment Promotion Agency (AZPROMO) Yusif Abdullayev said, Trend reports.
He made the remark at the "Role of small and medium businesses in the green economy" conference in Baku today.
"The event will take place on November 14 as part of the implementation of the Baku Initiatives announced by Azerbaijan this summer," emphasized Abdullayev.
According to him, each of Azerbaijan's fourteen initiatives will help the country reach its sustainable development objectives and fight climate change.
The official also noted that on November 14, the event "Platform for Business, Investments, and Philanthropy" is planned and organized by AZPROMO.
He mentioned that as part of the Day of Finance, Investment, and Trade, two discussion sessions will be held, organized jointly by AZPROMO and the World Economic Forum.
He explained that these sessions will be all about getting foreign investors who are on board with climate goals to team up with local companies and making sure that climate commitments match up with possible investment projects.
"Trade and investment house pavilions will also be organized," added Abdullayev.
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 with its secretariat in Bonn.
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