Azerbaijan Aims To Attract More Investments In Agri-Food System - COP29 President
Date
11/19/2024 1:10:05 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, November 19. Azerbaijan is
looking to enhance the appeal of investments in its agri-food
system, COP29 President, Minister of Ecology and Natural Resources
Mukhtar Babayev said during the COP29 event themed "Launch of Baku
Harmoniya Climate Initiative for Farmers: Empowering Farmers for
Climate Resilience" today, Trend reports.
"We want to make investments in the agri-food system more
attractive. By working with multilateral development banks and
private financial institutions, we aim to secure funding for
sustainable agriculture. Partnerships will be a key factor in this
process," he said.
To note, the 29th session of the Conference of the Parties to
the UN Framework Convention on Climate Change (COP29), which will
run until November 22, opened at the Baku Olympic Stadium on
November 11. It is the largest event organized by Azerbaijan to
date, and the first time in the region that it is being held in
Azerbaijan.
Within COP29, the highest level event - the summit of world
leaders on climate action – was held on November 12–13.
The main expectation from COP29 is to agree on a fair and
ambitious New Collective Quantitative Goal (NCQG) on climate
finance. The COP29 Presidency 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.
In addition to being a top priority that creates the conditions
for action, creating climate finance will also help fulfill the
1.5°C pledge by bringing everyone together.
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” 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
otherwise decided by the parties, COP is held annually. The first
COP event was held in March 1995 in Berlin, and its secretariat is
located in Bonn.
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