BAKU, Azerbaijan, November 15. Central Asia (CA) is a unique region with huge water resources and rich solar and wind energy potential, Uzbekistan's Deputy Minister of Energy Umid Mamadaminov said at the Ministerial Meeting on the COP29 Energy Initiatives today, Trend reports.
"The integration of energy resources among nations is critically significant. The intergovernmental linkages are essential for the optimum utilization of each nation's natural resources and for the optimal integration of mostly renewable energy sources.
Central Asia is a unique region where, for example, Kyrgyzstan and Tajikistan have abundant water resources, while Uzbekistan is rich in solar and wind resources. This allows us to effectively trade electricity surpluses and import energy during periods of deficit," the official explained.
He emphasized that, in this regard, intergovernmental integration is extremely important.
"We can create a central platform for electricity trade between countries by uniting all the regions. This is truly a crucial point. All developing countries need to have a clear strategy and a master plan for the development of renewable energy sources.
Clarity on this issue is crucial, especially for attracting financing for such projects from banks, as it is important to understand how much solar and wind energy, as well as variable generation, you plan to integrate into your energy system," he 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 at the Baku Olympic Stadium on November 11. It is the largest event organized by Azerbaijan to date, and the first time in the region that it is being held 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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