BAKU, Azerbaijan, November 14. Schneider Electric Executive Vice President for International Operations Manish Pant and Cluster President & CEO of the company for Türkiye and Central Asia Ismail Yamangil visited the Azerenergy OJSC pavilion in the Green Zone at COP29, Trend reports.
The attendees subsequently convened with the CEO of Azerenergy OJSC, Baba Rzayev, to strategize on existing partnerships and future initiatives.
At the close of the meeting, Schneider Electric and Azerenergy OJSC put pen to paper on a Memorandum of Understanding (MoU) aimed at weaving renewable energy sources into the fabric of the energy system, along with energy monitoring, planning, and other vital areas.
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 at the Baku Olympic Stadium on November 11. 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 - was 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.
In addition to being a top priority that creates the conditions for action, creating climate finance will also help fulfill the 1.5°C pledge by bringing everyone together.
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” and 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 otherwise decided by the parties, 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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