COP29 chief calls for stronger public-private partnerships at Baku ESG Summit

ECONOMICS  03 July 2024 - 11:02

The "ESG Summit: Public-Private Partnership (PPP) for Sustainable Development" commenced in Baku, Caliber.Az reports quoting local media.

Mukhtar Babayev, President of COP29 and Azerbaijan's Minister of Ecology and Natural Resources delivered a video address at the summit's opening, emphasizing the integration of environment, society, and governance (ESG) principles.

Babayev underscored the increasing role of PPP in financing strategic "green" projects, highlighting its importance in enhancing credibility for investors and reducing financial risks.

He stressed the collaborative role of government and private sectors in implementing ESG practices to advance sustainable sectors like water supply, agriculture, urbanization, and healthcare, crucial for navigating energy transitions and securing investor confidence.

Babayev acknowledged PwC's contributions as the summit's organizer and highlighted ESG's pivotal role in COP29 negotiations, aimed at fostering transparency in global climate actions.

He expressed optimism that PPP collaboration would pave the way towards a sustainable future and a greener world.

Caliber.Az