BAKU—Addressing the 79th session of the United Nations General Assembly, Azerbaijan’s Foreign Minister Jeyhun Bayramov highlighted the COP29’s role in advancing carbon market mechanisms and fostering global peace amidst the climate crisis.

According to Azerbaijan State News Agency, Minister Bayramov detailed the COP29 presidency’s efforts to achieve a resolution on carbon markets, which he described as crucial for the cost-effective implementation of nationally determined contributions (NDCs) and increasing mitigation ambitions. The presidency has introduced 14 initiatives addressing various aspects of climate change and sustainable development, including green energy, agriculture, and digital solutions for environmental challenges.

One significant proposal under the COP29 Action Agenda is the establishment of the Climate Finance Action Fund, aimed at supporting climate finance through voluntary contributions from fossil fuel producers. Bayramov underscored that COP29 is not just about environmental action but also an opportunity to bridge differences and promote peace. He cited the COP29 Truce Initiative, which calls for a cessation of hostilities and political unity during the conference, already supported by over a thousand NGOs, faith leaders, and other influential figures.

This ambitious agenda, according to Bayramov, positions COP29 as a pivotal moment for global environmental diplomacy and a platform for reconciling international conflicts exacerbated by climate change.