(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 3. The decision to holdCOP29 (the 29th session of the Conference of the Parties to the UNFramework Convention on Climate Change) in Baku reflects globalsupport for Azerbaijan's green energy policy, the country'sMinister of Finance Samir Sharifov said, Trend reports.
He made the remark during a meeting with the Director General ofthe Central and West Asia Regional Department of the AsianDevelopment Bank (ADB), Eugene Zhukov, who was visitingAzerbaijan.
The meeting held consultations on the current state and futuredirections of cooperation between Azerbaijan and the ADB; futureproject financing programs based on the sustainability of economicdevelopment in the country; and government priorities werediscussed.
Sharifov noted that the expansion of the use of green energysources has been identified as a new priority direction in nationalenergy policy.
The minister was also extensively informed about the currentwork within Azerbaijan's Socio-Economic Development Strategy for2022-2026, rapid reconstruction, and construction efforts aimed atensuring the return of former IDPs to the liberatedterritories.
He highlighted the government's interest in cooperation with theADB on transportation projects, railway infrastructure, andrenewable energy and the advisability of discussions in thisdirection with relevant government structures.
Noting that this year marks the 25th anniversary of the start ofcooperation between the Government of Azerbaijan and the ADB,Sharifov said that over the past period of successful partnership,Azerbaijan has gained the bank's strategic support in all areas ofdevelopment.
Zhukov wished the government success in its activities andemphasized that the ADB is interested in expanding ties withAzerbaijan, particularly expressing interest in providing financialand technical support for the implementation of new projects inaccordance with government priorities.
He pointed out ongoing efforts to develop another three-yearpartnership strategy between the ADB and Azerbaijan.
Highly appreciating Azerbaijan's selection as the host countryfor COP29 in November of this year, the ADB representative saidthat this is the result of successful policies implemented in thefield of green energy in the country and expressed readiness toprovide necessary technical and organizational support for thesuccessful conduct of this prestigious event.
During the meeting, the parties also discussed other mutuallyinteresting issues.
Azerbaijan will host the 29th session of the Conference of theParties to the UN Framework Convention on Climate Change (COP29)this November. This decision was reached during the COP28 plenarymeeting held in Dubai on December 11, 2023. In less than two weeks,Baku is poised to become the epicenter of global climatediscussions, welcoming an estimated 70,000 to 80,000 foreigndelegates.
The UN Framework Convention on Climate Change, establishedduring the Earth Summit in Rio de Janeiro in June 1992, aims toavert perilous human interference with the climate system. COP, anacronym for Conference of Parties, signifies the highestlegislative authority overseeing the Convention's implementation, 198 nations are parties to the Convention. By default,COP sessions are convened annually, unless otherwise decided by theparticipating parties. The inaugural COP convened in March 1995 inBerlin, with its secretariat headquartered in Bonn.
As Azerbaijan prepares to host COP29, it assumes a pivotal rolein advancing global efforts to address climate change, underscoringthe urgency and importance of international cooperation incombating environmental challenges.
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