Economics
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Azerbaijan Caspian Shipping Company (ASCO) has achieved a 20% reduction in emissions compared to 2022 levels, exceeding the International Maritime Organization’s (IMO) 2030 target, ASCO Chairman Rauf Veliyev announced during a presentation at COP-29 events in Baku on Monday.
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Nationally Determined Contributions (NDC) 3.0 are the most critical political documents for each United Nations member state to combat greenhouse gas emissions, Simon Stiell, Executive Secretary of the UN Framework Convention on Climate Change (UNFCCC), said on Wednesday at the COP 29 event titled "Leveraging the NDC Partnership Model for Accelerating Ambitious Climate Action."
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Azerbaijan has taken a significant step towards advancing its renewable energy ambitions with the signing of a Memorandum of Understanding (MoU) between the State Agency for Renewable Energy Sources (BOEMDA), “Clean Energy Invest LLC,” and “Baltech Green LLC” to develop the Kalbajar Wind Power Plant.
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The Organization of the Petroleum Exporting Countries (OPEC) and the Gas Exporting Countries Forum (GECF) convened their third coordination meeting on November 19 during the COP29 climate summit in Baku, OPEC announced.
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