BAKU, Azerbaijan, November 6. Azerbaijan will demonstrate its commitment to fight global climate change at the upcoming COP29, Deputy Minister of Ecology and Natural Resources Vugar Karimov said at the conference “For sustainable development of Azerbaijan: presentation of the Unified Platform and National Standard on Environmental, Social and Corporate Governance (ESG),” Trend reports.
“Azerbaijan will demonstrate its commitment to fighting global climate change at the upcoming COP29. Azerbaijan has put forward 14 key initiatives as part of its COP29 chairmanship. Our goal is to introduce new approaches and innovative solutions not only at the national but also at the global level. Through these initiatives, Azerbaijan will continue to support the transition to a green economy and maintain its leading position in the international arena. These steps will also strengthen the image of our country as a reliable and productive partner. The establishment of a climate finance fund that supports public and private investments in climate change adaptation, mitigation, and research projects is one of the key initiatives. This fund is particularly important for financing the elimination of the consequences of natural disasters in developing countries,” he noted.
According to him, the BICFIT initiatives put forth by Azerbaijan during its COP29 chairmanship are designed to kickstart investments in green economy diversification and to pave the way for the development of pertinent policies, acting as a springboard for dialogue and the sharing of experiences.
“The goal of this initiative is to fortify the connections between climate finance, investment, and trade. As part of the COP29 events, a day dedicated to the theme of “Finance, Investment, and Trade” on November 14 is scheduled to present these initiatives. Emphasizing the important role of business in this process is crucial, as a shift to sustainable business models is key to achieving global climate goals. The initiatives presented at COP29 will accelerate the transition to a green economy. Finally, we encourage businesses to seize every opportunity to transition to a sustainable economy, which will not only improve their competitiveness but also make a meaningful contribution to achieving global climate goals by promoting more sustainable and responsible operations,” he added.
To note, Baku is hosting a conference titled “For sustainable development of Azerbaijan: presentation of the Unified Platform and National Standard on Environmental, Social and Corporate Governance (ESG)”.
The event sees the attendance of Sadig Gurbanov, the chairman of the Committee on Natural Resources, Energy and Ecology of the Azerbaijani Parliament, along with Vladanka Andreeva, the UN Resident Coordinator in Azerbaijan, and a host of other officials.
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