(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 17. The InternationalFinance Corporation (IFC) is working on a strategy for creatingsmart villages given green technologies together with thegovernment of Azerbaijan, Aliya Azimova from IFC said at the“Enhancing Ambition, Enabling Action: COP29 Sustainable BusinessForum” event in Baku on May 17, Trend reports.
She reminded that with the World bank structure, the IFCsupported the preparation of a Roadmap for Offshore Wind Energy(OWE) for Azerbaijan, according to which the country has thepotential to install offshore wind farms with a total capacity ofup to 7.2 GW by 2040 (minimum scenario - 1.5 GW).
According to her, wind and solar power plants will pave the wayfor Azerbaijan's decarbonization.
The IFC representative mentioned that the highest greenhouse gasemissions worldwide are observed in four sectors - transport,energy, agriculture, and industry, and the IFC aims to cover thesesectors with its research.
Azimova emphasized that an important aspect IFC focuses on is'green' buildings, and on June 6, a seminar on this topic will beheld in Baku.
She also pointed out that IFC is working on projects for 'green'building certificates worldwide, which are also relevant forAzerbaijan.
"Overall, we are actively working with various companies andstructures in Azerbaijan to adapt to new climate conditions andchallenges," said Azimova.
Adaptation is related not only to greenhouse gas emissions butalso to the shrinking of water basins (a problem especiallyrelevant for agriculture and social issues), she added.
To note, this November, Azerbaijan will host COP29. Thisdecision was made at the COP28 plenary meeting held in Dubai onDecember 11 last year. Baku will become the center of the world andwill receive about 70–80,000 foreign guests.
The United Nations Framework Convention on Climate Change is anagreement signed at the Earth Summit in Rio de Janeiro in June 1992to prevent dangerous human interference with the climate system - the Conference of the Parties - is the highest legislativebody overseeing the implementation of the Framework Convention onClimate Change. There are 198 countries that are parties to theConvention. Unless the parties agree otherwise, the COP is heldannually. The first COP event took place in March 1995 in Berlin,and its secretariat is located in Bonn.
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