BAKU, Azerbaijan, November 15. The launch of the “Green Development Portal” within COP29 is one of the most important practical initiatives for Azerbaijan, Azerbaijani Minister of Economy Mikayil Jabbarov said at an event dedicated to the launch of "Green Development Portal" within COP29, Trend reports.
According to him, the portal is one of the initiatives related to climate finance put forward by the COP29 chairmanship, called the Baku Initiative on Climate Finance, Investment and Trade (BICFIT).
“If we don't integrate climate finance into our economic policies, we probably won't get where we want to go. These issues need to be coordinated. The initiative on this was launched yesterday,” he said.
Jabbarov noted that this portal will be publicly available.
“I think this is a very important point. Users will include the private sector, government, and financial institutions. We believe in the power of inclusiveness. I would like to thank SOCAR for supporting this initiative. SOCAR has contributed to this initiative. I also appreciate the cooperation of Harvard University management with us in the field of diversification of Azerbaijan's economy,” he added.
The 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) opened on November 11. COP29, which is being held at the Baku Olympic Stadium, will continue until November 22. It is the largest event organized by Azerbaijan to date, and the first time in the region that it is being held in Azerbaijan.
The key expectation from COP29 is to agree on a fair and ambitious New Collective Quantified Goal (NCQG) on climate finance.
A total of 14 initiatives have been put forward by the COP29 Chairmanship.
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