Economics - 1998 February 20 (Friday)

BAKU, Nov 20 (Reuters) - Azerbaijan aims to fully electrify its bus fleet by 2030 as part of its commitment to sustainable urban transport, Digital Development and Transport Minister Rashad Nabiyev announced at the "Green Urban Transport" high-level roundtable held during COP29 events.

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.

As part of the COP29 climate summit, Azerbaijan’s Minister of Economy, Mikayil Jabbarov, held a key meeting with Ibrahim Al-Isri, Chief Investment Officer of the Oman Investment Authority (OIA). The discussions underscored the growing economic collaboration between Azerbaijan and the Gulf Cooperation Council (GCC) countries.

Sources from two negotiation teams at COP29 reported to journalists on Tuesday, November 19, that the volume of the "New Collective Quantified Goal" (NCQG) for climate financing, being discussed this week in Baku, is unlikely to exceed USD 500 billion. This limitation is attributed to the negotiation stance of the U.S. delegation in light of the shift in power following the presidential elections in the United States.