Greenhouse Gas Emissions in Azerbaijan: Sectors and Plans to Reduce the "Carbon Footprint"

The presence of "hotspots" on the global map, geopolitical instability, and the uncertain future of the U.S. dollar—the key currency in trade operations—are factors driving increased investments in gold by private investors, companies, banks, and sovereign wealth funds.

At the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, which began in Baku on November 11, a decision was made to allocate $300 billion annually for climate financing by 2035. Additionally, ten years of negotiations on high-quality carbon markets under Article 6 of the Paris Agreement were concluded. A decision was also made to fully operationalize the Loss and Damage Fund.

On the night of November 23-24, the five-hour closing ceremony of the 29th session of the UN Framework Convention on Climate Change (UNFCCC) Conference of the Parties (COP29) concluded with the adoption of the “Baku Climate Unity Pact”. This pact encompasses three key decisions of the summit:

On Thursday, November 21, a day before the official conclusion of COP29 (although it may be extended until November 24), participants of the UN climate summit, chaired by Azerbaijan, held discussions within the framework of the “Kurultai” initiative about two proposed texts for the "New Collective Quantified Goal" on climate financing (NCQG), according to ASTNA.