Key outcomes of COP29 discussed in Ashgabat
10:32 07.02.2025 2318
A briefing was held in Ashgabat, during which the Ambassador of Azerbaijan to Turkmenistan Gismet Gezalov presented the outcomes of COP29 - the UN Climate Change Conference held in Baku in November 2024.
As noted, COP29 focused on climate finance. Conference participants decided to triple the previous funding target, increasing it to $300 billion per year for developing countries by 2035.
Azerbaijan has led adaptation efforts by developing the Baku Adaptation Roadmap in support of the Global Adaptation Goal. COP29 completed work on the implementation of the Loss and Damage Compensation Fund, which will provide financial support to countries affected by climate disasters. One of the key results of COP29 was the successful completion of lengthy negotiations on Article 6.4 of the Paris Agreement aimed at creating reliable and transparent carbon markets.
COP29 contributed to strengthening the commitment of Central Asian countries to the principles of green energy and sustainable development.
Several global projects were initiated within the framework of COP29, held under the chairmanship of Azerbaijan, including the Baku Climate Finance Initiative, the COP29 Climate and Peace Initiative, and the United Territories Partnership for a Green Economy.
Ambassador Gezalov emphasized that Turkmenistan officially assumed the chairmanship of SPECA for 2025, presenting its concept and initiatives. This was reported by the International Information Center of Turkmenistan.
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