TBILISI: ADB supports Azerbaijan in holding COP29, director for climate change in ADB’s Climate Change and Sustainable Development Department Noelle O’Brien told reporters, Trend reports.
“We support Azerbaijan’s hosting of COP29. We have stated to the government of Azerbaijan that we support this, and we are currently exploring with them how ADB can directly support them in hosting this event. There are several ways. We are bank observers in the negotiations, and we don’t intervene in the substantive issues. But we are providing some capacity-building support to the government that is in the negotiation process,” she said.
She said various negotiations will be part of the priority for this year’s conference.
“This includes issues such as new collective quantitative targets that represent a level of ambition beyond the current expected $100 billion. We expect that to be part of the process. The allocation of funds for adaptation and other aspects of the global agreements is also a matter of concern. So, at
the request of Azerbaijan’s government, we will provide support in terms of engagement. We’re also obviously discussing with them what investments the country wants to make. And this is an area of work that involves our sector teams and our regional team in the Central West region,” she concluded.
To note, the theme for the 57th Annual Meeting takes place from May 2 through May 5, titled ‘Bridge to the Future.’
The opening session of the Board of Governors will take place on May 4. The opening session marks the official start of the annual meeting. The guest of honor from the host country attends this high-profile event. Remarks will be made by ADB President Masatsugu Asakawa the Minister of Finance of Georgia and Chair of the ADB Board of Governors, Lasha Khutsishvili.
The annual meeting is an opportunity for ADB governors to consider development issues and challenges facing Asia and the Pacific. Several thousand participants, including finance ministers, central bank governors, senior government official
s, members of the private sector, representatives of international organizations and civil society organizations, youth, academia, and the media, regularly join the meeting.
Source: Trend News Agency