BAKU, Azerbaijan, April 19. The American Chamber of Commerce in Azerbaijan (AmCham) has held its second event in Baku as part of the Stakeholder Dialogue on Climate Change initiated this year, a source in AmCham told TurkicWorld.

"A joint meeting of the Sustainable Development and Corporate Impact Committee and the Procurement Committee took place as part of the series of events under the Stakeholder Dialogue on Climate Change. We discussed existing global practices for sustainable supply chains (goods, services) to further business growth," said the source.

The source reminded that the first event of the dialogue in Baku took place in January and was dedicated to the theme of Year of Solidarity for a Green World and the upcoming COP29 in Azerbaijan.

Until November 2024, AmCham will hold four more meetings as part of the Stakeholder Dialogue on Climate Change.

This AmCham initiative aims to promote awareness and collaboration among enterprises in Azerbaijan in preparation for the upcoming COP29 conference, which will take place in Baku from November 11 to 24, 2024.

"The next four meetings of the AmCham dialogue will discuss the role of corporate governance in environmentally friendly business operations, global practices of non-financial reporting from the perspective of Azerbaijan's legislative framework, legal norms related to the ESG (Environmental, Social, and Governance) program in Azerbaijan, as well as available tax incentives," added the source.

This November, Azerbaijan will host COP29. This decision was made at the COP28 plenary meeting held in Dubai on December 11 last year. Baku will become the center of the world and will receive about 70–80,000 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. COP - the Conference of the Parties- 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.