Portugal to collaborate with Azerbaijan on renewable energy Minister says

Portugal's Minister for Environment and Energy Maria da Graça Carvalho has said that the main goal of the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) is to increase financing for developing countries.  

"The EU expects an increase in the number of countries participating in financing efforts. The number of these countries and the volume of funding will be a key focus of discussion over the next two weeks," Carvalho said in an interview with APA, Caliber.Az reports.

The minister also acknowledged Azerbaijan's interest in collaborating with Portugal on renewable energy projects.

"Portugal is well-developed and experienced in renewable energy, while Azerbaijan is keen to advance in this sector. Our ambassador to Azerbaijan has emphasised your country's desire to cooperate and learn in this area. We are committed to working with the countries that wish to partner with us on renewable energy initiatives," she added.

The Summit of World Leaders within the framework of the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) has started in Azerbaijan's capital Baku. On November 11, the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) officially kicked off in Baku, marking one of the most significant and prestigious global events. 

COP29, which is being held at the Baku Stadium from November 11 to 22, is Azerbaijan's largest event to date and the first of its kind in the region. A "Host Country Agreement" and other key documents were signed between the Azerbaijani government and the Secretariat of the UN Framework Convention on Climate Change. The main expectation from COP29 is to agree on a fair and ambitious New Collective Quantified Goal (NCQG) related to climate finance. The COP29 presidency has put forward 14 initiatives that encompass the interlinkage between climate action and sustainable development goals. These include green energy corridors, green energy storage, climate resilience harmony, clean hydrogen, methane reduction from organic waste, and actions in the field of green digital technologies, among other topics.

One of the proposed initiatives is the establishment of a Climate Finance Action Fund. Beyond prioritising climate finance, which brings everyone together, this initiative will also contribute to meeting the 1.5°C commitment. Azerbaijan attaches great importance to environmental protection and addressing the impacts of climate change, actively working in this direction. The country’s unanimous election as the host of the 29th session of the Conference of the Parties is a clear testament to this. As noted by the President of the Republic of Azerbaijan, Ilham Aliyev, this is a sign of great respect and trust from the international community towards Azerbaijan.

By Naila Huseynova