COP29 president joins panel on advancing Africa’s energy agenda at summit PHOTO

COP29 President Mukhtar Babayev joined a panel discussion focusing on taking Africa’s Energy agenda to the next level at the Africa Energy Summit on January 27. 

The discussion centred on energy access and government policies in Africa, Caliber.Az reports, citing the message on the COP29 Azerbaijan website on X. 

This sort of discussion will be critical in delivering the commitments made at COP29, including the COP29 Action Agenda pledge to increase global energy storage capacity by six times by 2030.

Moreover, Babayev and United Nations Deputy-Secretary General Ms Amina Mohammed discussed the ways to consolidate the achievements of the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) at the summit. 

Here the two leaders discussed the progress made at COP29, and the need for further cross-border collaboration to consolidate the achievements made in Baku.

COP29 has reached a significant agreement on climate finance, with a commitment to allocate $250 billion annually until 2035.

One of the key decisions made at the conference was the adoption of the New Collective Quantified Goal. This decision calls for a collective effort from all parties to increase climate finance for developing countries, with the goal of mobilizing at least $1.3 trillion annually by 2035 from both public and private sources.

The decision reflects proposals from developed countries to increase climate finance from the current $100 billion per year to $250 billion by 2035. This increase is aimed at supporting climate initiatives in developing nations.

African Heads of State have convened in Tanzania alongside private sector leaders, development partners, and civil society representatives for the Mission 300 Africa Energy Summit. 

The summit aims to unite efforts in expanding electricity access across the continent while outlining tangible steps to transform Africa’s energy sector. Hosted by the Government of the United Republic of Tanzania, in collaboration with the African Union, the African Development Bank Group, and the World Bank Group, the event emphasizes the urgent need for reliable, affordable, and sustainable energy as a catalyst for economic growth and development across Africa. 

During the summit, several nations are set to unveil their National Energy Compacts, which will set forth ambitious goals and critical reforms tailored to the specific needs and circumstances of each country.

By Naila Huseynova