BAKU, Azerbaijan, November 12. COP29 stands as a new driver for global efforts to accelerate these commitments and progress, the Azerbaijani Minister of Energy said at a ministerial dialogue themed "Scaling up Investment for Tripling Renewables and Doubling Energy Efficiency" within COP29 in Baku today, Trend reports.
"COP29 is a global event that marks an important milestone on our path to ambitious goals — tripling renewable energy and doubling energy efficiency. Through the Global Commitment on Renewable Energy and Energy Efficiency, our partnership with the European Commission, COP28, the International Energy Agency (IEA), and IRENA (International Renewable Energy Agency) reflects our unwavering commitment to advancing and supporting green energy, contributing to international efforts for a brighter and more efficient future.
Almost a year ago, at COP28, the vast majority of the world's countries made a collective commitment to renewable energy and energy efficiency, which are fundamental elements of the energy transition by 2030. This pivotal moment became a turning point in the fight against climate change, aimed at limiting global warming to 1.5 degrees.
COP29 is now a driving force behind global efforts to accelerate the implementation of these commitments and progress, focusing on removing barriers to a rapid energy transition," Shahbazov added.
To note, the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), which will run until November 22, opened on November 11 at the Baku Olympic Stadium.
The event is the largest organized by Azerbaijan to date and is the first time the region has hosted the event in Azerbaijan. Within COP29, the highest-level event - the summit of world leaders on climate action - will be held on November 12–13.
The main expectation from COP29 is to agree on a fair and ambitious New Collective Quantitative Goal (NCQG) on climate finance. The COP29 chairmanship has launched 14 initiatives that include linkages between climate action and the Sustainable Development Goals, including green energy corridors, green energy storage, harmony for climate resilience, clean hydrogen, methane reduction in organic waste, action on green digital technologies, and other topics.
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