President of Azerbaijan Ilham Aliyev has ordered the direction of AZN 7 million to upgrade the elevator facilities in residential buildings, which are in the public housing stock in the cities of Baku, Sumgait and Ganja. The funds are allocated from the Reserve Fund of the President in the state budget for 2013.
The Executive Power of the Baku city received 5 million, and two other cities received 1 mln. According to official sources, the residential buildings in Baku have 4,975 lifts, 99% of which are in operation. The life of half of the elevators in Baku has expired. In the cities of Sumgait and Ganja are available 190 elevators. They are all in working order. - 08D-
Economics
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The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change has taken a significant step towards a unified global response to climate change. On the first day of discussions in Baku, participating countries reached a historic agreement on the rules governing the creation and trade of carbon credits. This decision paves the way for the launch of multibillion-dollar carbon credit markets, to be overseen by the United Nations, potentially as soon as next year.
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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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