BAKU, Azerbaijan, November 5. The financial sector's planned initiatives for COP29 have been deliberated in Azerbaijan, Taleh Kazimov, Governor of the country's central bank, wrote on his X page, TurkicWorld reports.
He stated that an additional meeting concerning the issue was conducted with the executives of banks within the broader Presidium of the Azerbaijan Banks Association.
"During the meeting, we reviewed the banking sector’s results for the third quarter and discussed medium-term goals. Topics of discussion included the current macroeconomic situation, recent economic indicators, their impact on the financial sector, and feedback from the sector representatives.
Additionally, we addressed COP29 related topics, focusing on the broader challenges facing the financial sector and outlining planned actions," the official added.
In just less than a week’s time, the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) will be kicking off in Azerbaijan, the decision of which was made at the plenary meeting of COP28 held in Dubai in December last year.
The UN 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 in the climate system. The abbreviation COP (Conference of Parties) means "Conference of Parties" and is the highest legislative body overseeing the implementation of the Framework Convention on Climate Change.
A total of 198 countries are parties to the Convention. Unless otherwise decided by the parties, COP is held annually. The first COP event was held in March 1995 in Germany's Berlin with its secretariat in Bonn.
