The International Forum on Sustainable Development and Climate Innovation has kicked off in Baku, thanks to the British Chamber of Commerce in Azerbaijan (BCCA) and a host of supporters, including the UK Embassy, the Great Challenge Fund, the UN Office in Azerbaijan, and John Patterson Events Company, the source in BCCA told Trend.
Key topics of the event include:
The latest business innovations in carbon capture, energy transfer, Net Zero in construction and residential buildings, green hydrogen, and digital development. ESG (Environmental, Social and Governance) in transport and urban transport systems. The Smart Cities Index.
Speakers include UN Resident Coordinator in Azerbaijan Vladanka Andreeva, Deputy Chair of Climate Risk and Resilience at Howden Group Antony Hobley, Head of the BCCA John Patterson, UN Climate Change High-Level Champion for COP29 Azerbaijan Nigar Arpadarai, and others.
Andreeva said that the world needs cutting-edge financial tools to address climate challenges.
“If we don’t protect the environment now, we will neither protect nor build our future. The world currently needs the latest innovations and financial tools to address pressing climate issues and achieve the global goal of Net Zero greenhouse gas emissions,” she noted.
Andreeva drove home the point that cutting emissions in vital economic sectors like industry, transport, and construction is the name of the game.
“The UN supports collective efforts and projects aimed at solving these challenges. Climate change affects everyone, which is why we need global dialogue and the search for innovative solutions,” she added.
The forum is part of a series of climate dialogues ahead of the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change, which will take place in Baku from November 11 to 22.
Besides, Hobley pointed out that COP29 will open great opportunities for successful business operations amid the new climate realities.
He tipped his hat to the COP29 presidency team for their hard work in getting the ball rolling on negotiations ahead of the November climate summit in Baku.
“Climate change impacts the overall development of the economy, investor earnings, and business operations, which is why climate solutions are of global importance,” Hobley noted.
According to him, finance tackles a host of challenges, not the least of which is the looming specter of climate change, and it’s crucial to pull out all the stops and rally as much market funding as we can to pave the way for effective climate financing.
“Climate change is increasing risks, including credit risks, which is why banks are actively involved in all climate negotiations,” he emphasized.
Hobley expressed his satisfaction with the British Chamber of Commerce in Azerbaijan (BCCA) for organizing events in Baku for the business community, which is directly involved in implementing COP decisions.