(MENAFN- Trend News Agency)
BAKU, Azerbaijan, June 29. Through our
projects, we aim to assist Azerbaijan in achieving its national
agenda and aligning with the goals of COP29, Ludger Schuknecht,
Vice President, Corporate Secretary at the AIIB, told Trend .
"The focus of AIIB includes infrastructure that is
climate-friendly, supporting both climate change mitigation and
adaptation. To achieve this objective, we are investing
significantly in renewable energy and green infrastructure, which
is our primary area of focus. Additionally, we are engaged in
projects related to digital connectivity, such as upgrading
communication networks, roads, railways, and ports, all while
maintaining environmental sustainability. We are also pleased to
discuss COP29, although preparations are ongoing and the agenda is
still being finalized. Our purpose here is to understand
Azerbaijan's priorities and explore how our bank can support
Azerbaijan in achieving them," he said.
According to Schuknecht, the Paris Agreement is crucial in this
regard, ensuring that all projects adhere to national commitments
under it and meet high environmental, social, and governance
standards. "These measures will enable the AIIB to support its
member countries and clients in meeting their climate
objectives".
"I believe that AIIB, along with our multilateral development
partners like the World Bank and Asian Development Bank, will be
prepared to support the agendas of COP29 and Azerbaijan. It's truly
fantastic that Azerbaijan will host COP29. There will be a need to
implement agreements from previous COPs, and naturally, there's
always the aspiration to develop new ideas or plans. I think
Azerbaijan is ideally positioned to facilitate such
consensus-building efforts, bring stakeholders together, and align
efforts towards shared goals," the VP added.
Azerbaijan will host the 29th session of the Conference of the
Parties to the UN Framework Convention on Climate Change (COP29) in
November this year. The decision was made at the plenary meeting of
COP28 held in Dubai on December 11 last year. Within two weeks,
Baku, having become the center of the world, will host about
70,000–80,000 foreign guests.
The UN Framework Convention on Climate Change is an agreement
signed at the Rio Earth Summit in June 1992 to prevent dangerous
human interference in the climate system. The acronym COP
(Conference of Parties) stands for Conference of Parties, which is
the highest legislative body overseeing the implementation of the
Framework Convention on Climate Change.
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