Georgian PM Kobakhidze Announces New Climate Commitment at COP29 Summit in Baku
Georgian PM Kobakhidze Announces New Climate Commitment at COP29 Summit in Baku
Georgian Prime Minister Irakli Kobakhidze announced that Georgia will present its updated Nationally Determined Contribution (NDC 3.0) by 2025, signaling the country’s renewed climate ambitions during his speech at the COP29 summit in Baku on Wednesday.
Kobakhidze emphasized the urgent need to tackle climate change, acknowledging its far-reaching impacts, especially for vulnerable nations like Georgia.
“Climate change is one of the greatest challenges of our time,” Kobakhidze declared, citing the devastating consequences such as rapid glacier melting and rising sea levels, which are undermining economies and livelihoods worldwide.
The Georgian prime minister highlighted the link between human rights and environmental protection, pointing to Georgia’s constitutional commitment to the right to a clean environment. He recalled Georgia’s presidency of the Council of Europe in 2019-2020, where human rights and environmental protection were key priorities, laying the groundwork for significant legal progress.
In his address, Kobakhidze reaffirmed Georgia’s commitment to the Paris Agreement, pledging to cut global greenhouse gas emissions in half by 2030. “The road ahead requires bold action and global cooperation,” he stated.
Kobakhidze stressed that the success of COP29 hinges on achieving a collective quantitative target for climate finance, calling for a substantial increase beyond the current $100 billion goal to ensure adequate financial support for climate action in developing countries. “It is essential that financial resources align with the objectives of the Paris Agreement to drive global efforts towards resilience,” he added.
-
- In World
- 13 November 2024 13:16
Economics
-
On December 10, President Ilham Aliyev of Azerbaijan has signed a decree amending the 2014 presidential order on the management of the Shah Deniz Phase 2 gas-condensate field and Southern Gas Corridor (SGC) projects, granting the State Oil Company of Azerbaijan (SOCAR) expanded control to ensure financial consolidation.
-
In the period from January to November 2024, Azerbaijan's exports not related to oil and gas increased by 1.9% compared to the same period in 2023, reaching a total value of $3.1 billion. This growth, noted in the latest "Export Survey" published by the Center for Analysis and Communication of Economic Reforms, reflects the country's diverse and expanding export portfolio.
-
In a significant step towards fostering cashless transactions, Azerbaijan has extended its innovative "Return VAT" program to include real estate purchases. Between January and November 2024, citizens recovered 160.3 million manat through the program, marking a notable milestone in the government’s efforts to promote digital payments and enhance consumer benefits.
-
Entrepreneurs operating in markets across Azerbaijan will be required to register for taxation. Failure to do so will result in a financial penalty of 2,000 manat for each unregistered entrepreneur, imposed on market owners or administrators. This requirement is included in proposed amendments to the Tax Code, set to be discussed in Parliament.
Leave a review