Baku: The Green Finance Leaders Summit will take place in Washington on October 11, 2024 ahead of COP29, a climate finance event to be held in Baku, Azerbaijan, according to Report, which cites a post of the US-Azerbaijan Chamber of Commerce (USACC) on X.
The post reflects the Chamber’s call to participate in the Green Finance Leaders Summit together with USACC, the US Department of Commerce, and the Bloomberg Center at Johns Hopkins University.
The event is organized in the run-up to COP29 and will be dedicated to exploring financial mechanisms for a sustainable future with key experts and officials.
The summit will be held at the Bloomberg Center at Johns Hopkins University.
COP29 climate will start in Baku, Azerbaijan, in November 2024.
In Solidarity for a Green World, “Being elected by unanimous decision as the host country for COP29 is really a big honour for us. We consider it as a sign of respect from the international community to Azerbaijan and what we are doing, in particular, in the area of green energy”, said Ilham Aliyev.
President of the Republic of Azerbaijan has vowed to make COP29 a success.
Azerbaijan during the COP29 Presidency will listening to ideas on climate crisis, and engage with a broad range of international stakeholders. “It is working to ensure everyone’s voices are heard and perspectives are considered and included so that we deliver inclusive outcomes based on shared solutions. We are optimistic that together we can make real progress”, said officials.
Also, during COP29 Presidency, Azerbaijan climate action plan includes two pillars. The first pillar — to “enhance ambition” — combines key elements to ensure all parties commit to ambitious national plans and transparency. The second pillar — to “enable action” — reflects the critical role of finance, a key tool to turn ambition into action and reduce emissions, adapt to climate change and address loss and damage.
Regarding Azerbaijan’s Green Energy Transition Initiatives, officials stated “Azerbaijan is committed to developing its renewable energy potential, which is an important part of the country’s plan to reduce greenhouse gas emissions by 40% by 2050.
Additionally, Azerbaijan intends to increase renewable power capacity to 30% by 2030 and diversify its existing energy system to become a leader in green energy. Azerbaijan is committed to leading by example and will update its national targets in its next 1.5-aligned Nationally Determined Contribution.
The previous United Nations Climate Change Conference (COP29) was hosted by the United Arab Emirates, which hosted COP28,
