IMF Anticipates Strong Partnership with Azerbaijan in Upcoming COP29 Presidency
In an exclusive interaction, sources from the International Monetary Fund (IMF) expressed eagerness to forge a strong collaborative relationship with Azerbaijan in light of its forthcoming presidency of COP29. This partnership aims to enhance the global initiative against the dire repercussions of climate change. The IMF is committed to assisting in evaluating the economic and macroeconomic risks that climate change poses to Azerbaijan. The organization is also focused on developing strategic policies that align with Azerbaijan’s climate change mitigation and adaptation objectives, alongside exploring viable options for climate financing.
In a recent development, Kristalina Georgieva, the IMF’s Managing Director, engaged in discussions with Mukhtar Babayev, the designated President of COP29, during their encounter at the World Government Summit. Their conversation revolved around the upcoming COP29’s priorities and the avenues through which the IMF could contribute to the overarching goal of addressing climate change impacts.
The conversations highlighted the progress made during COP28, notably the landmark resolution urging a shift away from fossil fuels within energy frameworks. With the critical insights gained from the Global Stocktake, there’s a unanimous call for stakeholders to intensify their efforts and focus on actionable climate responses throughout the current decade.
A significant milestone was reached on December 11, 2023, when Azerbaijan was officially declared the host country for COP29, scheduled for November in Dubai. This announcement marks a pivotal moment for Azerbaijan, positioning it at the forefront of global climate discussions and efforts.
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