EBRD to participate at highest level in COP29 in Baku

The European Bank for Reconstruction and Development (EBRD) will have top-level representation at the upcoming COP29 climate conference in Baku.

EBRD President Odile Renaud-Basso, along with First Vice President Jurgen Rigterink, Vice President for Policy and Partnerships Mark Bowman, and Managing Director for Climate Strategy and Delivery Harry Boyd-Carpenter, will attend the event, News.Az reports.

This year's COP29 will focus on accelerating climate action through financing, with a particular emphasis on mobilizing private sector involvement, according to the bank. As part of the conference, EBRD, in collaboration with other international financial institutions and organizations, will organize 11 thematic events aimed at tackling climate change and promoting decarbonization.

The EBRD reaffirmed its commitment to advancing green development, sustainability, and innovation. The bank has been a key player in global climate efforts, mobilizing private finance and pushing for systemic changes across the regions where it operates. EBRD also emphasized its goal to ensure that at least half of its business remains green, with €6.5 billion in green financing reached last year alone, solidifying its position as a leader in climate financing.

The COP29 climate conference is set to take place in Baku from November 11 to 22. This decision was reached during the COP28 plenary session held in Dubai on December 11, 2023.

The United Nations Framework Convention on Climate Change (UNFCCC), which was established during the Earth Summit in Rio de Janeiro in June 1992, aims to mitigate harmful human impacts on the climate system. The acronym COP stands for "Conference of the Parties," which denotes the highest decision-making body responsible for overseeing the implementation and effectiveness of the UNFCCC.

This upcoming conference presents a crucial opportunity for young voices to contribute to the global climate dialogue, emphasizing the importance of youth engagement in shaping the future of environmental policies and actions.

News.Az