(MENAFN- Trend News Agency)
BAKU, Azerbaijan, November 14. As part of
COP29 in Baku, Trend
News Agency proudly presents COP for Hope, a special project
offering an unparalleled platform to hear from world leaders and
trailblazers in politics, economics, science, and ecology, all
united by a shared commitment to addressing today's pressing
climate challenges.
Today, we are honored to speak with Maxim Reshetnikov, the
Minister of Economic Development of the Russian
Federation.
In an exclusive interview with Trend on the
sidelines of COP29, Reshetnikov expressed confidence that
Azerbaijan will give fresh momentum to global climate policy.
"We are confident that Azerbaijan will provide fresh momentum to
advancing the full spectrum of climate policy measures. Our
countries must show that hydrocarbon-exporting nations are not only
committed to but are actively implementing the principles of a fair
transition to a low-carbon economy while also taking a responsible
and proactive approach to the green agenda," he said.
Key issues for Russia at COP29
Reshetnikov also outlined Russia's focus at COP29, emphasizing
the importance of international cooperation to address global
climate challenges. He highlighted the need for free access to
financing and technology to support the transition in developing
countries.
"We will be discussing a new collective goal for financing
developing countries, as their support is essential to achieving
global climate targets. Russia advocates for maintaining the
current approach under the UNFCCC regarding the financial
obligations of developed countries toward developing nations.
The focus will remain on emission reduction and the future role
of fossil fuels. Last year, we successfully highlighted the
critical role of transition fuels, particularly natural gas, in the
low-carbon transformation of various sectors. In Baku, we aim to
further advance the recognition of natural gas as a key enabler for
decarbonization efforts," he said.
Reshetnikov added that it is also crucial to establish a new set
of rules for the international trading of carbon credits.
"We aim to advance our approaches to inventorying emissions and
removals, which played a key role in the comprehensive update of
Russia's greenhouse gas inventory. These methods focus on
accurately accounting for the contribution of managed ecosystems to
the greenhouse gas balance, as well as the national specifics of
technologies used across various sectors of the Russian
economy.
The new methodology for the national inventory represents one of
the first major outcomes of the Russian Climate Monitoring System
project, initiated by the President of the Russian Federation.
Since 2022, the Ministry of Economic Development, in collaboration
with Roshydromet, the Ministry of Natural Resources, the Ministry
of Energy, and over 50 leading scientific institutes, has been
implementing this important project," the minister said.
Financing for developing countries
The minister stressed the importance of transitional financing
for sectors with high emission levels or where emission reductions
are particularly challenging.
"Strict restrictions on fossil fuel support and the refusal to
finance such projects will undermine the achievement of the
Sustainable Development Goals (SDGs) and jeopardize the energy
security of countries. Any unilateral barriers or restrictions
disguised under the climate agenda are unacceptable. We believe it
is essential to establish practical mechanisms for the effective
implementation of international climate agreements. A central issue
in this regard is the creation, under Article 6 of the Paris
Agreement, of a robust global system for trading carbon units,
including through bilateral cooperation mechanisms.
The introduction of carbon units under Article 6 will be a
crucial step in recognizing the quality of climate projects,
attracting investment, and enabling the sale of carbon units on the
international market," he said.
The minister also highlighted that ahead of COP29, Azerbaijan
proposed the creation of a Climate Finance Action Fund, aimed at
investing in climate change mitigation efforts in developing
countries, with its headquarters based in Baku.
"The fund is intended to bring together oil-producing countries
and companies that are committed to diversifying their investments
toward green initiatives and are ready to support low-carbon
development. Expert consultations have just begun, and we are still
finalizing the key operational parameters of the fund. We will
actively participate in these discussions as well," the minister
said.
Russia's Commitment to Sustainable
Development
Reshetnikov also emphasized Russia's long-term commitment to a
low-carbon economy.
"Decarbonization directly impacts the competitiveness of
companies, and businesses are increasingly recognizing this
reality. As a result, working within the framework of the climate
agenda has become one of the most critical factors driving the
development of the global economy. Look at the BRICS nations, the
countries of the Persian Gulf, and the Asia-Pacific region-all are
actively engaging with the climate agenda.
The Climate Summit is a unique platform that annually brings
together thousands of representatives from the public sector,
business, and the scientific community. The decisions made at the
conference not only set global trends but also serve as benchmarks
for the actions countries take in climate policy. At the same time,
these decisions allow each country to choose the tools and
strategies that best align with its national interests.
This year, the focus of the conference is financial. The scope
of assistance, funding sources, and climate finance definition will
be discussed in detail. The allocation of financial flows to
specific projects is a crucial issue. Reaching an agreement on a
"global taxonomy of green projects" will undoubtedly shape the
future of the climate agenda. In this context, it is essential that
we address transition financing for industries with high emissions
or those where reducing emissions is particularly challenging,"
Reshetnikov said.
Russia's Role in Supporting the Global Transition to
Clean Energy
The minister emphasized that national scientific expertise
should play a central role in providing technical support for
climate negotiations and decision-making at the global level.
"In addition, national studies can significantly enrich and
clarify global climate data.
The scientific community will present Russia's national project,
the Russian Climate Monitoring System, at the Russian pavilion on
November 12. We are eager to collaborate and share our experience
in utilizing this system for preparing national reports, including
inventories of emissions and carbon sequestration. The results of
this project play a crucial role in identifying effective solutions
for decarbonization and adaptation while also helping to structure
the energy sector and the broader economy more effectively.
Another pressing issue is the conservation of water resources.
Our countries are witnessing a decline in the Caspian Sea's water
level due to climate change. To address this, we propose
establishing a platform for the exchange of scientific and
technical expertise. Additionally, we are prepared to share the
results of our monitoring and modeling studies on the ecosystems of
the Caspian Sea and the Samur River. Furthermore, we are committed
to training Azerbaijani specialists to support efforts in building
a national inventory of greenhouse gas emissions and carbon
sequestration," he said.
Russian-Azerbaijani Economic Cooperation
The minister emphasized that Azerbaijan is a key strategic
partner for Russia.
"This partnership is formalized in the Declaration on Allied
Cooperation, signed by the heads of state of Russia and Azerbaijan
in 2022, and reflected in ongoing efforts to enhance stability and
security on both global and regional levels.
In early 2024, a roadmap was approved outlining key areas of
cooperation for the next three years. These include strengthening
the North-South International Transport Corridor, increasing the
number of joint projects, boosting food supplies, and expanding
collaboration in the social, humanitarian, and tourism sectors.
Trade and economic ties between the two nations remain strong,
with Russia ranking as one of Azerbaijan's top three trading
partners. Bilateral trade continues to show positive dynamics, with
trade turnover increasing by 8.5 percent during the first eight
months of 2024," he said.
He noted that Russian exports grew by nearly 10 percent, driven
by supplies of oil and oil products, foodstuffs, and agricultural
raw materials (such as cereals, fats and oils, cocoa, and
confectionery); metals (including ferrous metals and aluminum);
plastics; as well as electrical machinery and equipment.
"I would also like to highlight a 5.5 percent increase in our
imports from Azerbaijan. We have seen a rise in the volumes of
vegetables, eggs, dairy products, both alcoholic and non-alcoholic
beverages, animal and vegetable oils, plastics, chemical products,
and electrical household appliances, as well as ships and boats
imported from Azerbaijan.
By the end of the year, we expect mutual trade to grow by at
least 10 percent. Investment projects are further strengthening our
trade and economic cooperation. Nearly 1,300 enterprises with
Russian capital have been established in Azerbaijan.
AvtoVAZ has initiated production in the automotive sector,
producing over 1,000 cars this year. Additionally, AvtoVAZ has
assembled 179 GAZ Group vehicles, and the KAMAZ service center is
now operational. The pharmaceutical industry is producing a
diabetes treatment drug and expects to manufacture the first batch
of insulin soon. All of these developments are part of the ongoing
economic cooperation between Russia and Azerbaijan," the minister
said.
Reshetnikov highlighted the opening of a joint transport and
logistics center in Dagestan this past August. He also underscored
one of the most significant milestones of 2024: the signing of a
contract for the supply of cars to the Baku Metro.
"Looking ahead, we plan to deepen cooperation in the industrial
sector. Next year, we aim to launch a plant for aluminum and steel
composite panels, and discussions are already underway to establish
production of chemical products at the Sumgait Chemical Industrial
Park," he said.
The minister pointed out that this year, Russia and Azerbaijan
have made significant progress in advancing their cooperation on
climate change.
"We have finalized the Memorandum of Understanding on Climate
Change and Low Carbon Development," the minister noted. "As a
reminder, the memorandum was signed during the visit of Russian
President Vladimir Putin to Azerbaijan on August 19, 2024. This
document establishes the framework for joint climate projects and
the exchange of expertise on climate change adaptation. We are
eager to begin bilateral consultations as soon as possible, so we
can move swiftly into the practical implementation of the
memorandum's provisions," the minister concluded.
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