Azerbaijan, UAE strengthen ties in green energy, digital economy at COP29

Azerbaijani Economy Minister Mikayil Jabbarov and UAE Minister of Economy Abdulla Bin Touq Al Marri have discussed spheres for the development of trade and economic partnerships as part of the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29). 

The sides emphasised the strong bilateral ties between Azerbaijan and the UAE, which are based on mutual friendship, respect, and successful economic cooperation, the Azerbaijani Economy Ministry told Caliber.Az. 

The two ministers exchanged views on several key topics, including promoting investments in the transition to a green economy, successful partnerships in renewable energy projects, expanding business and trade relations, strengthening cooperation on digital solutions, and exploring opportunities for further collaboration aimed at diversifying their economies. 

COP29, being held from November 11 to 22 at Baku Stadium, represents Azerbaijan's largest and most significant international event to date, marking the first time the country has hosted a COP summit. The event began with the signing of a Host Country Agreement and other important documents between the Azerbaijani government and the UN Framework Convention on Climate Change (UNFCCC) Secretariat. A central focus of COP29 is the establishment of a fair and ambitious New Collective Quantitative Goal (NCQG) for climate finance. In line with this, the presidency of COP29 has introduced 14 key initiatives that link climate action to the United Nations Sustainable Development Goals (SDGs).

These initiatives cover areas such as green energy corridors, energy storage, climate resilience, clean hydrogen, methane reduction from organic waste, and the development of green digital technologies. One of the flagship proposals is the creation of a Climate Finance Action Fund, aimed at supporting the critical goal of limiting global warming to 1.5°C. Throughout COP29, Azerbaijan has demonstrated its commitment to climate action and environmental protection. The unanimous decision to elect Azerbaijan as the host for this summit underscores the global community’s trust in the country’s leadership on climate issues. In his opening remarks, President Ilham Aliyev emphasized Azerbaijan’s pivotal role in global climate efforts, underscoring the country’s dedication to mitigating climate change and advancing sustainable development.

By Naila Huseynova