(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 10. It is necessary toprovide financial assistance to developing countries to reducegreenhouse gas emissions, Deputy energy Minister of AzerbaijanElnur Soltanov (a member of the COP29 chairmanship board) said,Trend reports.
He made the statement during the event titled "ClimateDialogues: The Road to COP29".
He stated industrialized countries used 80 percent of the carbonbudget (high carbon dioxide emissions) but are now consideringcutting greenhouse gas emissions to minimize environmentaldamage.
"But developing countries don't have the same opportunities asdeveloped countries, there is no financial capacity for climateaction, they need to be given financial assistance. This will beone of the issues discussed in Azerbaijan at COP29. Holding COP29in Azerbaijan places a great responsibility on the country, and itis impossible to imagine that there will be another suchopportunity in the next century," Soltanov emphasized.
He also mentioned that one of the Azerbaijani government'scommitments is to reduce carbon dioxide emissions by 40 percentunder the Nationally Determined Contributions (NDC).
"In general, the solution to climate problems should not berealized through the damage of normal life activity, and we shouldtry to achieve this by applying economic and social developmentmodels," Soltanov added.
He said the country needs to solve the problem of methaneemissions and all kinds of waste and try to recycle waste toproduce electricity or useful products from it.
To note, the 29th session of the Conference of the Parties to theUN Framework Convention on Climate Change (COP29) will be held inAzerbaijan in November this year. The decision was made at theplenary session of COP28 held in Dubai on December 11 last year two weeks Baku, having become the center of the world, willhost about 70,000–80,000 foreign guests.
The UN Framework Convention on Climate Change is an agreementsigned at the Earth Summit in Rio de Janeiro in June 1992 toprevent dangerous human interference in the climate system. Theacronym COP (Conference of Parties) stands for Conference ofParties, which is the highest legislative body overseeing theimplementation of the Framework Convention on Climate Change.
Meanwhile, 198 countries are parties to the convention. Unlessthe parties decide otherwise, COP is held annually. The first COPevent was held in March 1995 in Germany's Berlin, and itssecretariat is based in Bonn.
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