Azerbaijan and the UN discuss preparations for COP29
Azerbaijan and the UN discuss preparations for COP29
Azerbaijan held productive discussions with the United Nations in Baku on the country's ambitious transition to green energy. Energy Minister Parviz Shahbazov shared his opinion on these negotiations in a post on the social network "X", highlighting the fruitful discussions held on February 2 with Simon Steele, Executive Secretary of the UN Framework Convention on Climate Change.
The main topics of discussion were preparations for the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29), mutual cooperation and initiatives of Azerbaijan in the field of green energy.
In a statement on December 15, President Ilham Aliyev shed light on the monumental scale of the COP29 Conference scheduled for November in Baku. The President said that about 70-80 thousand foreign guests are expected to attend the event, which makes it one of the largest gatherings in the country's history. This figure surpasses attendance at previous major events such as the European Games, underscoring the scale and importance of COP29 on the world stage.
Aliyev acknowledged the difficulties associated with holding such a large-scale international event and stressed the need for immediate and effective preparatory work. Despite the time constraints — less than 11 months — the President stressed the importance of ensuring the smooth running of COP-29, given its status as one of the most prestigious international events in the world.
Azerbaijan's commitment to COP29 is not only a logistical event, but also a strategic opportunity to demonstrate the country's commitment to sustainable practices, especially in light of its role as a major oil and gas producer. Aliyev stressed that Azerbaijan's main agenda at COP29 revolves around "green" energy, which is a priority in the country's energy policy.
Thus, COP29 becomes a platform for Azerbaijan to demonstrate to the world its commitment to solving the problem of climate change, promoting sustainable energy solutions and contributing to global efforts to create a more environmentally friendly and resilient future.
Economics
-
In a significant development for the North-South international transport route, exploration work on the Rasht-Astara railway section, which will connect Azerbaijan and Iran, is scheduled to begin in June 2024. This announcement was made by Dmitry Zverev, the Deputy Minister of Transport of the Russian Federation, during the XV International Economic Forum "Russia – the Islamic World: KazanForum 2024," as reported by TASS.
-
Azerbaijan’s once-burgeoning oil revenues are on the decline, posing a significant challenge for the nation’s economy. The State Oil Fund of Azerbaijan (SOFAZ) is projected to receive approximately $5 billion from oil sales this year, a sharp drop from previous years. In 2022, buoyed by high oil prices, revenues surged to about $10 billion. However, last year’s figures dipped to just over $6 billion, and further declines are anticipated due to decreasing production.
-
Aliya Asimova, representative of the International Finance Corporation (IFC) in Azerbaijan, outlined the organization's renewed focus on combating climate change during her address at the business forum "Raising Ambitions and Stimulating Activities: Forum Sustainable Business COP29."
-
Azerbaijan has unveiled ambitious plans to curb greenhouse gas emissions and propel its economy towards sustainable growth. Minister of Ecology and Natural Resources Mukhtar Babayev delivered this proclamation during the esteemed forum "Growing Ambitions and Incentives for Action: COP-29 Sustainable Business Forum."
Leave a review