With less than one month until the next UN climate conference, COP29, which will be held in Baku from 11 to 22 November, Azerbaijan is finalising the\u00a0agenda. Hosting such a prestigious international conference for the first time in the region is a great responsibility, and COP29 initiatives demonstrate Azerbaijan\u2019s focus on critical issues to tackle climate change and promote finance and investments effectively.<\/p>\n
In mid-October (10-11), Azerbaijan hosted a pre-COP event in Baku, an important platform for starting negotiations ahead of COP29.\u00a0Pre-COP29<\/a>\u00a0discussions mainly focused on key priorities, including climate finance, especially NCQG, mitigation, adaptation, and the inclusion of vulnerable communities in global climate solutions through the Loss and Damage Response Fund. The purpose of the\u00a0meeting<\/a>\u00a0was also to provide a selected group of countries with an informal setting to discuss and exchange views on some key aspects to serve as a base of political recommendations for future negotiations. According to EU Commissioner for Climate Action Wopke Hoekstra, \u201cThere is a lot of work to be done ahead of COP29. Not only do we need to build confidence in the consensus reached at COP28 in Dubai, but we also need to make it more concrete. Pre-Cop has been a good start for the negotiations\u201d.<\/p>\n Talking about COP29, it is worth noting that the COP29 Presidency has already announced the COP29 Presidency Initiatives as part of its\u00a0\u201cAction Agenda<\/a>\u201d to accelerate progress on climate action and supplement the formal negotiated COP agenda. The Action Agenda represents an ambitious effort by the COP29 Presidency to drive action across all climate pillars and covers a range of critical priorities, such as energy, finance, agriculture, cities, human development, and the climate-peace nexus. COP29 initiative on\u00a0Climate Finance Action Fund<\/a>\u00a0(CFAF) aims to capitalise on voluntary contributions from fossil fuel-producing countries and companies to catalyse the public and private sectors across mitigation, adaptation, and research and development. This Fund will also have special facilities for highly concessional and grant-based funding to rapidly address the consequences of natural disasters in developing countries in need. Climate change<\/a>\u00a0rapidly alters the global security landscape; its security implications are highly diverse and pose many complex challenges. Climate change is also shifting the dynamics of peacebuilding. COP29 in Baku also aims to support global peace and security. The objective of the\u00a0COP Truce Appeal<\/a>, which is an appeal for a COP Truce modelled on the Olympic Truce, is to highlight the importance of peace and climate action. The COP29 Presidency will hold \u201cthe Peace, Relief, and Recovery Day\u201d on November 15. This will be the second \u201cPeace, Relief and Recovery Day<\/a>\u201d following the inaugural day held at COP28 in Dubai. During this day, the parties will discuss policy, finance, and field practices to tackle the ongoing challenges for highly climate-vulnerable countries facing conflict and humanitarian situations to access financial resources and implement adaptation measures.<\/p>\n Regarding COP29 in Baku, it is also essential to analyse Azerbaijan\u2019s approach to tackling climate change\u00a0and how the country seeks to promote the energy transition. In this context, Azerbaijan has already proven itself a reliable energy partner and contributes to Europe’s energy security. Towards this end, Azerbaijan started the\u00a0green transition<\/a>. The country aims to reduce greenhouse gas emissions (GHG) by up to 35% by 2030\u00a0and 40% by 2050,\u00a0declaring the liberated territories a \u201cnet zero emission\u201d zone. Renewable energy sources are expected to make up 30% of Azerbaijan\u2019s electricity generation by 2030. Overall, transforming the country into a \u201cgreen energy hub\u201d is a key component of Azerbaijan\u2019s energy policy, and COP29 in Baku will foster a green transition and renewable energy sources. The Black Sea submarine cable project, which will connect the electric power systems of Azerbaijan, Georgia, and later Central Asia with Europe, also supports a green transition on the regional level and\u00a0European green initiatives.<\/p>\n
\nIn addition, the COP28, COP29, and COP30 presidencies co-hosted a side event titled “TROIKA Roadmap to Mission 1.5: Enhancing International Cooperation\u201d as part of the pre-COP29. It should be noted that the\u00a0pre-COP was the latest milestone in Azerbaijan\u2019s preparations for COP29, which will be a crucial moment in the global effort to limit global warming to 1.5\u00b0C and build resilience to climate impacts.<\/p>\n
\nMany of these initiatives, particularly the Baku Initiative on Climate Finance, Investment and Trade (BICFIT), the Baku Initiative on Human Development for Climate Resilience, and the Multisectoral Actions Pathways (MAP) for Resilient and Healthy Cities, integrate and address cross-sectoral synergies.<\/p>\n
\nIt is becoming clear that a new global climate finance goal will be a key topic on the agenda during COP29 in Baku. Baku COP29 could be characterised as the \u201cfinance COP<\/a>\u201d because it is time for countries to set a new global climate finance goal. For the first time in 15 years, countries must agree to a new international finance goal known as the new collective quantified climate finance goal (NCQG).<\/p>\n
\nThe former Armenia-Azerbaijan conflict has resulted in enormous suffering for people. Azerbaijan faced severe economic, security, and environmental challenges. During the post-conflict period, one of the serious environmental challenges in the Karabakh region is soil and land contamination. Landmine contamination prevents access to agricultural lands and the return of IDPs to their permanent places of residence.<\/p>\n
\nMoreover, the COP29 Peace and Climate Initiative is a separate initiative, co-led with partners, that envisages delivering tangible outcomes such as establishing a centre of excellence hub to match the needs of the most vulnerable with existing resources and foster further action for the operationalisation of various initiatives on the peace and climate nexus. These initiatives aim to support international conflict prevention and inclusive peacebuilding.<\/p>\n
\nIt is also time to increase cooperation in\u00a0green energy and energy efficiency. To this end, the new Memorandum of Understanding on a Strategic Partnership in the Field of Energy signed between Azerbaijan and the European Union aims to enhance cooperation in energy efficiency and renewable energy.<\/p>\n
\nThe country signed several important green energy agreements with Masdar, ADNOC, ACWA Power, TEPSCO, Bp, and China Gezhouba Group Overseas Investment to implement various renewable energy projects. For example, in 2024,\u00a0Masdar<\/a>\u00a0signed three investment agreements for two solar projects and one onshore wind project with a combined capacity of 1GW following the inauguration of Garadagh Solar Park, the largest in the region. Projects are part of Masdar\u2019s 10GW projects supporting Azerbaijan\u2019s ambitions to generate 30% of its energy capacity from renewable power by 2030.<\/p>\n