COP29 hosts key agreement to transform Middle Corridor into green logistics hub

14 November 2024 11:35

PSA International, Global DTC, and the International Association "Trans-Caspian International Transport Route" have signed a Declaration of Cooperation to promote the Middle Corridor as an environmentally responsible and efficient transport route.

The Declaration was signed following a conference held at the PSA International booth during the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), Caliber.Az reports, citing local media.

During the conference, leaders from PSA International (PSA), Global DTC (GDTC), and the International Association "Trans-Caspian International Transport Route" (TITR) informed attendees about the significance and importance of the Middle Corridor.

The cooperation involves the digital integration of the Middle Corridor. The parties presented several key initiatives aimed at utilizing digital technologies to optimize operations and reduce environmental impact, transforming the Middle Corridor into a green corridor. They stated that this collaboration would unite key stakeholders along the Middle Corridor to create a sustainable green route.

TITR will encourage its members to contribute to the development of the green corridor and facilitate coordination between GDTC and its members to ensure the successful implementation of this initiative.

The parties also emphasized that the new collaboration represents an important step toward transforming the Middle Corridor into a sustainable global transport network.

By adhering to international environmental standards and demonstrating a steadfast commitment to reducing emissions, the partners are positioning the Middle Corridor as a highly sustainable option for international trade and transit.

Notably, COP29 officially started in Azerbaijan on November 11 and will run through November 22. The decision to host COP29 in Azerbaijan, a country with extensive experience in organizing international events, was made during the plenary session of COP28 in Dubai on December 11, 2023.

As part of the conference, Baku currently hosts 70,000 and 80,000 international guests, including leaders from governments, businesses, and civil society, all working together to find tangible solutions to the record-high global temperatures and extreme weather events that are affecting people worldwide.

A central focus of COP29 is finance, as trillions of dollars are needed for countries to significantly reduce greenhouse gas emissions and protect lives and livelihoods from the growing impacts of climate change.

The conference also serves as a critical moment for nations to present their updated national climate action plans under the Paris Agreement, which are due by early 2025. If implemented correctly, these plans will help limit global warming to 1.5°C above pre-industrial levels, while also serving as investment strategies that support the Sustainable Development Goals.