BAKU—Today, the COP29 Presidency unveiled a series of ambitious initiatives under its ‘Action Agenda’ aimed at bolstering global climate efforts. These initiatives are designed to enhance cooperation across energy, finance, agriculture, and other crucial sectors, as outlined by COP29 President-Designate Mukhtar Babayev in a letter to international stakeholders.

According to Trend News Agency, the Action Agenda encompasses several key projects, including the Baku Initiative on Climate Finance, Investment and Trade (BICFIT) and the Multisectoral Actions Pathways (MAP) for Resilient and Healthy Cities. These initiatives intend to harness cross-sectoral synergies and drive substantive action prior to, during, and after the COP29 event, which marks the first time the conference is held in the Caucasus region. Babayev emphasized that the Action Agenda reflects Azerbaijan’s commitment and unique capabilities in combating climate change.

The initiatives include the Climate Finance Action Fund (CFAF), aimed at catalyzing efforts across mitigation, adaptation, and research through contributions from fossil fuel producers; the COP29 Hydrogen Declaration to foster a global market for clean hydrogen; and various pledges to advance green energy and digitalization in alignment with climate goals.

The agenda also includes the COP Truce Appeal, echoing the Olympic Truce, underscoring the interlinkages between peace and climate action, and a range of declarations to enhance sectoral actions in tourism, water management, and urban development. These comprehensive efforts highlight the Presidency’s strategy to utilize finance as a central enabler and to maintain an inclusive and transparent approach in global climate negotiations.

“The confidence placed in Azerbaijan to host COP29 underscores our role in uniting global efforts against climate change. Every contribution counts, as every fraction of a degree matters in our collective pursuit to mitigate climate impacts,” stated Babayev, reflecting on the shared global responsibility in addressing climate challenges.