Azerbaijan Signs Energy Planning Memorandum With IAEA (PHOTO)

(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 13. A memorandum of understanding on cooperation in the area of energy planning in the context of the Paris Agreement was signed between Azerbaijan and the International Atomic Energy Agency (IAEA) at the“Financing Low Carbon Technologies, Including Nuclear Energy” event within COP29, the country's Energy Minister Parviz Shahbazov wrote on his X page, Trend reports.

"Our joint research and projects with the IAEA on advancing nuclear energy will support Azerbaijan's progress towards integrating nuclear energy and contribute to the diversification of its energy system," he added.

To note, the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) started in Baku on November 11. The United Nations Framework Convention on Climate Change is an agreement signed at the Earth Summit in Rio de Janeiro in June 1992 to prevent dangerous human interference in the climate system.

The acronym COP (Conference of Parties) stands for“Conference of Parties” and is the highest legislative body overseeing the implementation of the Framework Convention on Climate Change.

A total of 198 countries are parties to the Convention. Unless the parties decide otherwise, the COP is held annually. The first COP event took place in March 1995 in Berlin, and its secretariat is located in Bonn.

The main expectation from COP29 is to agree on a fair and ambitious New Collective Quantitative Goal (NCQG) on climate finance. The COP29 chairmanship has launched 14 initiatives that include linkages between climate action and the Sustainable Development Goals, including green energy corridors, green energy storage, harmony for climate resilience, clean hydrogen, methane reduction in organic waste, action on green digital technologies, and other topics.

MENAFN13112024000187011040ID1108883889