Azerbaijan Reveals Key Agreements Advancing The Green Economy At COP29
Date
11/28/2024 2:46:06 AM
(MENAFN- AzerNews)
Akbar Novruz
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Azerbaijan has signed five key agreements aimed at fostering the
"green economy" during events organized by the Ministry of Economy
at the 29th session of the conference of the Parties to the UN
Framework convention on Climate Change (COP29) in Baku,
Azernews .
Agreements include:
Electric Bus Production Project
Representatives from Azerbaijan's Ministries of Economy, Digital
Development and Transport, and Finance, alongside BYD, SARDA Group,
and Electrify Azerbaijan, signed an agreement to localize the
production of electric buses. The project includes establishing
production facilities and spare parts localization in Azerbaijan,
with a target of achieving 40% localization by 2030.
Deposit Management System
A Memorandum of Understanding (MoU) was signed between Azerbaijan
Investment Company (AIC) and Türkiye's Dias Bilişim ve Teknoloji
Hizmetleri A.Ş. to develop a Deposit Management System for
collecting plastic and glass containers in Azerbaijan.
Carbon Technology Development
AIC also partnered with the UK's Carbonbit Technologies to advance
the development and commercialization of carbon technologies in
Azerbaijan.
Battery Manufacturing Facility
A MoU was signed with Masdar (UAE) and Volts, a BP subsidiary, to
support the establishment of a power battery manufacturing facility
in Azerbaijan.
Waste Monetization Project
AIC, SOCAR Downstream, and Technip Energies Italy S.P.A (TEN)
established Ecostar LLC to lead the preliminary engineering design
of the "Waste Monetization" project using Alterra pyrolysis
technology. The project will produce pyrolysis oil from plastic
waste.
Additional Initiatives:
Baku Coalition Declaration for SMEs
SMEDA launched the“Baku Coalition Declaration for the Green
Climate Transition of SMEs,” calling on global SME ecosystem
stakeholders to support the green transition.
Trilateral Cooperation Declaration
SMEDA also signed a declaration with the International Trade Center
and Brazil's Micro and Small Enterprise Support Service to promote
sustainable economic development and facilitate SMEs' low-carbon
transition.
Discussions and Presentations
The Center for Analysis and Coordination of the Fourth Industrial
Revolution organized discussions on artificial intelligence,
sustainable development, and the role of digitalization in
addressing climate change. Startups showcased innovations in energy
optimization and environmental management.
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