International Sustainable Development, Climate Innovation Forum Opens In Azerbaijan (Обновлено)(PHOTO)

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 12. The International Forum on Sustainable Development and Climate Innovation has kicked off in Baku, thanks to the British Chamber of Commerce in Azerbaijan (BCCA) and a host of supporters, including the UK Embassy, the Great Challenge Fund, the UN Office in Azerbaijan, and John Patterson Events Company, the source in BCCA told Trend .

Key topics of the event include:

The latest business innovations in carbon capture, energy transfer, Net Zero in construction and residential buildings, green hydrogen, and digital development. ESG (Environmental, Social and Governance) in transport and urban transport systems. The Smart Cities Index.

Speakers include UN Resident Coordinator in Azerbaijan Vladanka Andreeva, Deputy Chair of Climate Risk and Resilience at Howden Group Antony Hobley, Head of the BCCA John Patterson, UN Climate Change High-Level Champion for COP29 Azerbaijan Nigar Arpadarai, and others.

Andreeva said that the world needs cutting-edge financial tools to address climate challenges.

"If we don't protect the environment now, we will neither protect nor build our future. The world currently needs the latest innovations and financial tools to address pressing climate issues and achieve the global goal of Net Zero greenhouse gas emissions," she noted.

Andreeva drove home the point that cutting emissions in vital economic sectors like industry, transport, and construction is the name of the game.

"The UN supports collective efforts and projects aimed at solving these challenges. Climate change affects everyone, which is why we need global dialogue and the search for innovative solutions," she added.

The forum is part of a series of climate dialogues ahead of the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change, which will take place in Baku from November 11 to 22.

Besides, Hobley pointed out that COP29 will open great opportunities for successful business operations amid the new climate realities.

He tipped his hat to the COP29 presidency team for their hard work in getting the ball rolling on negotiations ahead of the November climate summit in Baku.

"Climate change impacts the overall development of the economy, investor earnings, and business operations, which is why climate solutions are of global importance," Hobley noted.

According to him, finance tackles a host of challenges, not the least of which is the looming specter of climate change, and it's crucial to pull out all the stops and rally as much market funding as we can to pave the way for effective climate financing.

"Climate change is increasing risks, including credit risks, which is why banks are actively involved in all climate negotiations," he emphasized.

Hobley expressed his satisfaction with the British Chamber of Commerce in Azerbaijan (BCCA) for organizing events in Baku for the business community, which is directly involved in implementing COP decisions.

The Export and Investment Promotion Agency (AZPROMO) Deputy Executive Director Tural Gadjili, mentioned that Azerbaijan is making significant strides in combating climate change by hosting COP29 and is actively supporting the conference.

AZPROMO plans a series of events to foster cooperation and stimulate action, including the "Baku Climate Action Week," featuring themed roundtables on zero-emission shipping, sustainable finance, artificial intelligence, and circular economy principles.

“Such discussions are aimed at advancing innovation, enhancing climate resilience, and accelerating green growth initiatives in Azerbaijan and beyond. They will also foster collaboration among various stakeholders, including businesses, government agencies, and international organizations. AZPROMO hopes to achieve practical outcomes contributing to Azerbaijan's sustainable development goals through this dialogue,” Gadjili said.

He added that the“Baku Initiative on Climate Financing, Investments, and Trade Dialogue” (BICFIT Dialogue) will be launched during COP29.

“On November 14, during the Finance, Investments, and Trade Day at COP29, we will hold the BICFIT Dialogue as one of 14 initiatives in the COP29 Chairmanship Action Plan. This dialogue will facilitate the integration of finance, investments, and trade to combat climate change and achieve sustainable development goals, with high-level discussions and sessions on effective and coordinated climate strategies,” Gadjili added.

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