2024-04-06 09:14:10
The International Energy Forum urges governments to finalize Article 6 of the Paris Agreement, which provides the framework for international COP29
– 2024-04-11 14:39:53″>carbon trading and is considered critical to achieving national emissions targets.
As Day.Az reported on Wednesday with reference to Trend, this was stated by Secretary General of the International Energy Forum Joseph McMoneagle at the presentation of the report “The Role of Carbon Markets in the Transition Period.”
“The Article 6 agreement is key to unlocking the potential of international carbon markets, and we hope to see more progress in this regard at COP29 in Azerbaijan,” he said.
Carbon markets will play an important role in achieving climate, energy security and sustainable development goals by improving the efficiency of energy transitions and mobilizing funds for clean energy projects, he said.
“Carbon markets play an important role in allocating resources to achieve our global climate, energy security and affordability goals. But they are at an inflection point. Through greater international cooperation and smarter regulation, they could attract billions of dollars for clean projects.” energy industry, especially in developing countries that otherwise would not get off the ground,” McMonigle added.
It should be noted that the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) will be held in Azerbaijan this November. This decision was made at the COP28 plenary meeting held in Dubai on December 11 last year. Within two weeks, Baku will become the center of the world and will receive about 70-80 thousand foreign guests.
The United Nations Framework Convention on Climate Change is an agreement signed at the Earth Summit in Rio de Janeiro in June 1992 to prevent dangerous human interference with the climate system. The abbreviation COP (Conference of Parties) stands for Conference of the Parties, which is the highest legislative body overseeing the implementation of the Framework Convention on Climate Change.
There are 198 countries that are parties to the convention. Unless the parties agree otherwise, the COP is held annually. The first COP event took place in March 1995 in Berlin, and its secretariat is located in Bonn.
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