Azerbaijani ministry’s rep: Negotiations at COP29 to focus on climate finance

ECONOMICS  29 April 2024 - 10:38

Head of the sustainable development and social policy department of the Azerbaijani Economy Ministry Huseyn Huseynov has said that the COP29 Presidency will launch several new initiatives.

Huseynov made these remarks during a presentation entitled “On the Road to COP29 - Priorities and Agenda” held within the annual meetings of the Islamic Development Bank Group (IDB) in Riyadh, Trend reports.

“The COP29 Presidency is expected to launch several new initiatives at COP29. The preparation and coordination of these initiatives are discussed within the negotiating group, which is headed by the leading negotiator at the foreign ministry,” he said.

Huseynov noted that negotiations at COP29 will focus on climate finance, transparency and nationally determined contributions (NDCs).

“COP29 will be dedicated to bringing all these elements together to move the process forward. The COP-29 organising committee consists of 57 members representing government and non-governmental organisations (NGOs). The Troika mechanism was created to quickly move from agreed text to practical implementation and enhance cooperation between COP Presidencies,” he said.

Huseynov noted that the representatives of the UN Framework Convention on Climate Change and the COP29 Presidency have important work ahead to support the sides in submitting their first biennial transparency reports by the end of this year.

“These reports are necessary to track progress and build confidence, and COP29 will organise several workshops in Azerbaijan from May to support the sides,” he said.

The 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change will be held in Azerbaijan in November 2024.

Caliber.Az