Azerbaijan’s Ministry of Economy hosts key events at COP29 to drive climate action, innovation

The Azerbaijani Ministry of Economy is set to organize a series of high-profile events and meetings during COP29, focusing on climate action, innovation, and sustainable development.

On November 13, on the margins of the Summit of World Leaders on Combating Climate Change, the Ministry, in collaboration with the World Economic Forum, will host a high-level session titled “The Power of Cooperation: Joining Forces to Achieve Net Zero.” The session aims to emphasize the importance of collective action in achieving global climate goals, Caliber.Az reports.

In addition to this, several events will be organized under the Climate Platform for Business, Investment, and Philanthropy, including discussions on climate finance and strategic partnerships. The Ministry will also join the World Trade Organization (WTO) on November 14 to organize Climate FIT Day, where the Baku Initiative for Climate Finance, Investment, and Trade (BICFIT) will be unveiled.

COP29 will also feature the event “Strengthening a Sustainable Future: Stimulating Green Growth through Finance,” along with the presentation of the Climate Finance Action Fund (CFAF). Other key discussions will include partnerships with CAREC on climate, innovation, and trade, as well as collaboration with the Organization of Turkic States on green economy and trade.

On November 15, during the Day of Energy, Peace, Relief, and Recovery, the Ministry of Economy, in partnership with Harvard University’s Center for International Development “Growth Lab,” will present the Green Growth global portal. This will be followed by events on “Carbon Pricing: Current Challenges and New Strategies” and “Sustainable Finance and Climate Resilience Strategies through Public-Private Partnerships.”

November 16, designated as the Day of Science, Technology, Innovation, and Digitalization, will see a conference on “The Role of SMEs in the Green Economy” and events focused on the transformative power of artificial intelligence in reducing environmental impact and driving sustainable development.

On November 20, the Day of Urbanization, Transport, and Tourism, a roundtable with EBRD green city leaders from the SPECA region will be held, alongside a briefing on the SPECA Multi-Partner Trust Fund.

Throughout COP29, the Ministry of Economy and its affiliated agencies will sign memoranda of understanding and agreements with the Islamic Development Bank, the International Trade Center, and several international companies. The Ministry will also engage in a series of meetings with representatives from international organizations and government officials from around the world to advance global climate action and green initiatives.

By Vafa Guliyeva