BAKU, Azerbaijan, November 15. The creation of the ECO-UNIDO Clean Energy Center in Baku will renew Azerbaijan’s energy cooperation with ECO member states, the country's Energy Minister Parviz Shahbazov said during an event on the launch of the center within COP29 today, Trend reports.
"We are witnessing a significant milestone in the establishment of the ECO-UNIDO Clean Energy Center in Baku as part of the COP29 conference. This initiative is of strategic importance not only for Azerbaijan but also for all member states of ECO.
The opening of the Clean Energy Center will further strengthen the organization's leadership in the energy sector, foster regional cooperation, and accelerate the transition to renewable energy sources.
Our main goal is to facilitate a sustainable energy transition, attract investments in green energy in the region, and improve energy efficiency. We also aim to mobilize financial and technical resources for the development of green energy production projects and infrastructure," he emphasized.
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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