Azerbaijan at COP29: "Anchoring the world to 1.5ºC and rallying the globe behind the green transition"

ECONOMICS  19 March 2024 - 15:43

Representatives from Azerbaijan, Brazil, and the United Arab Emirates (UAE) are convening in Copenhagen this week for a crucial meeting of climate ministers, marking the first significant gathering since COP28 in Dubai.

These nations, representing past, present, and future COP presidencies, have formed a troika with a mission to foster international collaboration aimed at keeping global warming below 1.5°C, Caliber.Az writes, citing an article by The New Statesman.

With just over 200 days remaining until COP29 in Baku, urgent action is imperative as the world grapples with escalating climate impacts. Recent alarming developments include record-breaking temperatures in January, drying of critical ecosystems like the Panama Canal and the Amazon rainforest, devastating wildfires in Latin America, and widespread drought-induced food insecurity in the Horn of Africa.

Against this backdrop, hosting COP29 presents a monumental opportunity for Azerbaijan to demonstrate leadership and rally support from nations, businesses, and civil society to pursue ambitious climate action aligned with the 1.5°C target. Failure to act decisively now risks irreversible consequences, making COP29 a pivotal moment for securing a sustainable future and ensuring adequate financial support for vulnerable countries.

History has shown that successful COP presidencies yield not only diplomatic victories but also significant economic benefits. Investments in renewable energy are surpassing fossil fuels, with projections reaching $4.5 trillion in the 2030s, underscoring the importance of transitioning to sustainable energy sources to mitigate climate-related losses and damages.

As the COP29 presidency, Azerbaijan holds the key to steering the world toward a safe and equitable future aligned with the goals of the Paris Agreement. Azerbaijan's task is to leverage this opportunity to anchor global efforts towards a 1.5°C-aligned future and address the pressing challenges of climate change at COP29.

Caliber.Az