CAPITAL OF THE WORLD

Every year, the impact of climate change on our planet becomes increasingly evident and detrimental. With accelerated global warming as the backdrop, the necessity for urgent action to address climate change is paramount. The upcoming climate summit, COP29, will play a crucial role in discussing and implementing concrete measures to reduce greenhouse gas emissions.

Baku, the capital of the world

Hosting COP29 in Baku from November 11-22, 2024, marks a significant diplomatic achievement for Azerbaijan. This two-week UN climate negotiation event is expected to draw tens of thousands of attendees. Given the pressing nature of climate issues for humanity, Baku will effectively serve as the focal point of global attention during this period.

Selecting Baku as the host city for COP29 holds immense importance within the international community. Azerbaijan stands out as a significant oil center globally, with abundant oil reserves long recognized along the Caspian Sea's shores. The Absheron Peninsula has historically been pivotal for industrial oil extraction, processing, and transportation. Considering that oil activities are a major contributor to global warming, it would be symbolically powerful if Baku becomes the epicentre where strides towards a sustainable future for mankind are taken.

Furthermore, Azerbaijan has progressively engaged in promoting the green agenda in recent years. This strategic move by the country's leadership aligns with Azerbaijan's potential not only in hydrocarbon resources but also in developing alternative energy sources and facilitating energy transit from neighbouring nations. For instance, recent reports indicate plans for Kazakhstan and Uzbekistan to export "green" energy to Europe through Azerbaijan.

The story begins in Rio

The genesis of climate action traces back to the Rio Earth Summit in June 1992 when the UN Framework Convention on Climate Change was established to forestall hazardous human interference in the climate system. The convention boasts 198 member countries committed to its principles. The inaugural COP convened in Berlin in March 1995 following the First World Climate Conference in Geneva in 1979. The conference secretariat is headquartered in Bonn.

As humanity faces the imminent threat of catastrophic consequences from a projected warming exceeding 2.5°C, urgent action is imperative. Some climate models even forecast a potential rise of up to 5 degrees Celsius by the end of the 21st century, posing risks such as sea-level rise endangering coastal cities and escalating occurrences of extreme weather events like droughts, heatwaves, and floods. These challenges underscore the critical importance of transitioning to "green" energy not merely as a trend but as a fundamental pathway towards a sustainable future for all inhabitants of Earth.

Important imperatives

At the upcoming Baku conference in November, a key agenda item will be addressing the global imperative of providing climate finance to support developing nations in reducing greenhouse gas emissions and mitigating extreme weather impacts. This issue is anticipated to spark significant debate and contention due to its intertwined nature with domestic political landscapes across various countries.

Periodic escalations and lulls in farmers' protests are observed in the major EU countries, which rank among the most economically advanced and stable nations globally. The situation in significantly less affluent nations is even more challenging. Consequently, several governments in the Global South, spanning Africa, Asia, and Latin America, are advocating for annual sums exceeding $1 trillion to address climate change demands.

Mukhtar Babayev, Azerbaijan's Minister of Ecology and Natural Resources and President of COP29, emphasized the substantial financial resources required to assist underprivileged countries in updating their emission reduction strategies to align with the imperative of capping temperature escalation at 1.5°C above pre-industrial levels. Babayev likened this endeavour to a triangle, with transparency, finance, and national contributions as its three sides. Success in each facet, particularly transparent reporting of activities by nations, can enlighten the developed world about the priorities of developing nations, fostering trust and cooperation.

Baku has called on countries to prepare comprehensive reports well in advance of COP29, showcasing advancements in reducing greenhouse gas emissions and detailing climate crisis mitigation costs. Enhanced clarity in reporting and transparency serves as a solid foundation for climate finance. Nevertheless, challenges persist in defining eligible criteria for climate finance, establishing robust monitoring mechanisms, and navigating sensitive sovereignty issues related to emissions data accuracy.

The involvement and collaboration of major global powers will significantly influence the outcomes. The timing of the US presidential election just before COP29 holds particular relevance. Concerns loom over the potential implications if climate skeptic Donald Trump secures another term in the White House, potentially overshadowing COP29 with uncertainties regarding US climate commitments.

Azerbaijan proposes a ceasefire during COP29—an initiative aimed at promoting peace alongside climate action. In his interview with The Observer, Hikmet Hajiyev, Assistant to the President of Azerbaijan and Head of the Foreign Policy Department of the Presidential Administration, highlighted Azerbaijan's dedication to making COP29 a success story in peace-building and climate change combat.

The intricate relationship between the climate crisis and peace issues is underscored by the potential for environmental factors to instigate conflicts or exacerbate existing challenges such as migration, border disputes, landmines, and environmental degradation. All of these affect millions of people around the world. Hajiyev stressed that climate impacts are integral to national and global security considerations.

Baku bears a substantial responsibility in this context, presenting opportunities for Azerbaijan in promoting regional security, stability, and connectivity through "green" energy initiatives. Initiatives like the collaboration between Kazakhstan, Azerbaijan, and Uzbekistan to generate clean electricity for European export through a high-voltage cable through other countries and under the Caspian seabed showcase the region's potential contribution to global sustainability efforts. The main stakeholders in clean energy are the EU countries, which plan to phase out fossil fuels within ten years. Another important factor is the mineral-rich Central Asia, which can provide the necessary raw materials (lithium, cobalt, copper, nickel, silver, etc.) for the production of solar panels and wind turbines. So the region clearly has a lot to tell and offer to the global community. COP29 not only aids in enhancing the investment climate but also provides a platform for Azerbaijani and neighbouring stakeholders to engage with prominent business figures and scientists across various domains.

Through hosting significant international events with increasing frequency, Azerbaijan leverages COP29 as an avenue to bolster its global presence, highlight its rich cultural heritage, and underscore its commitment to sustainable development. The initiative to position COP29 as a platform linking climate crisis mitigation with national security concerns underscores Baku's dedication to fostering peace and preventing future conflicts, particularly in regions like the Karabakh area with untapped alternative energy potential.