COP29 gave platform for Caspian countries to show their commitment to energy transition – CPC president

COP29, held this November in Baku, gave a platform for Caspian countries to show their commitment to energy transition, Efgan Nifti, President of the Caspian Policy Center (CPC), said, addressing the Caspian Energy Security and Post-COP29 Conference in London, Trend reports.

“COP29 gave a platform for Caspian countries to show their commitment to energy transition, renewable energy, and tackling global challenges,” he added. The CPC President then spoke on some of the significant agreements reached within the past year in the region, including natural gas and clean energy from the region to Europe, such as the Black Sea Electricity Cable,” he said.

Nifti underlined the importance of the South Caucasus and Central Asia to world markets and supply chains. The CPC president noted that connection and cooperation within the Caspian region are increasing, evidenced by 17 visits from Central Asian leaders to the South Caucasus and 16 reciprocal visits from South Caucasus leaders to Central Asia within the past year alone.

He highlighted the growing importance of energy security and environment as top priorities in the region:

“The challenge of energy security is one of the issues that require common action. The Caspian region has played an important role in providing traditional energy resources, and looking into the future, it is poised to contribute to global energy security with sustainable, secure, and affordable clean energy”.

COP29 held in Azerbaijan was remarkable for the decisions on a new core finance goal of $300bn that triples the previous $100bn target; full operationalization of the Loss and Damage Fund and conclusion of negotiations on high integrity carbon markets under Article 6.

Source: https://en.trend.az/business/green-economy/3979481.html