EBRD announces comprehensive program for COP29 in Baku

The European Bank for Reconstruction and Development (EBRD) has unveiled an extensive lineup of events for the upcoming UN Climate Change Conference (COP29), to be held in Baku on November 11-22.

According to the EBRD, on the first day of the conference, the bank will collaborate with other multilateral development banks (MDBs), including the Asian Development Bank, the African Development Bank, and the World Bank Group, to host an event titled "Partnership for progress: MDB and client collaboration in advancing Article 6 and carbon market development." This session will bring together key stakeholders to discuss how MDBs are supporting their clients through cooperation in international carbon markets, Caliber.Az reports citing local media.

On November 13, the EBRD, together with other MDBs, will organize a session on "Measuring climate results: Common indicators for MDBs." This event will explore how development banks assess climate-related results, reporting methods, and shared indicators.

The EBRD will partner with the International Energy Agency (IEA) on November 14 to host an event focused on "Scaling up energy efficiency in Africa: Strategies and partnerships for a zero-emission future." This session will examine the financing of energy efficiency initiatives in developing countries, with a particular focus on Africa.

November 15 will feature three important events: "Greening financial systems: Challenges, lessons, and progress," which will discuss the role of financial systems in decarbonizing economies; "Country platforms for climate action: Common Understanding and Progress," which will look at the principles and achievements of country platforms for climate action; and "Mobilizing for climate action: The role of countries, MDBs, and the private sector," which will highlight the importance of financing in the transition of energy, industrial, and financial sectors.

On November 16, the EBRD will host an event titled "Supporting long-term strategies by MDBs," focused on supporting long-term strategies for Nationally Determined Contributions (NDCs) and National Adaptation Plans (NAPs). On November 19, the event "Advancing a just and equitable transition: Challenges and progress" will showcase initial results from the EBRD’s Just Transition Initiative.

Finally, on November 20, the EBRD will organize "Promoting circular economy investments worldwide," highlighting a new report from the Circular Economy Working Group and showcasing examples of how banks are supporting the circular economy.

By Vafa Guliyeva