BAKU, Azerbaijan, May 3. A conference in Türkiye will discuss COP29 and carbon dioxide trading, an informed source told Trend.
According to the source, the Azerbaijani delegation will take part in the Carbon Forward conference on May 9–10 in Izmir, Türkiye.
"In 2025, Türkiye will trade CO2 emissions quotas. Türkiye ETS will be tested in the fourth quarter of 2024 and launched by 2025. Therefore, in May, the country will host a specialized event in Izmir," the source said.
The conference welcomes Balkan, African, Middle Eastern, and Georgian representatives in addition to Azerbaijan.
The conference topics include carbon dioxide emissions in industry, aviation, shipping, and steps for companies to achieve emission reduction goals.
The event's first day will focus on determining carbon emission prices and trading carbon quotas.
The discussions will cover the roles of municipal enterprises, banks, brokers, and exchanges in carbon trading, as well as their impact on the power sector.
Moreover, the participants will attempt to forecast carbon emission prices.
The conference's second day will cover topics for discussion at COP29 in Baku.
"Since Carbon Forward Türkiye 2024 targets industrial companies in the region (cement plants, steel mills, and power plants) that produce significant greenhouse gas emissions, detailed discussions on this specificity will take place on May 10. Discussions on carbon emissions by shipping companies will also be held," noted the source.
This November, Azerbaijan will host COP29. This decision was made at the COP28 plenary meeting held in Dubai on December 11 last year. Baku will become the center of the world and will receive about 70–80,000 foreign guests.
The United Nations Framework Convention on Climate Change is an agreement signed at the Earth Summit in Rio de Janeiro in June 1992 to prevent dangerous human interference with the climate system. COP—the Conference of the Parties—is the highest legislative body overseeing the implementation of the Framework Convention on Climate Change. There are 198 countries that are parties to the Convention. Unless the parties agree otherwise, the COP is held annually. The first COP event took place in March 1995 in Germany's Berlin, and its secretariat is located in Bonn.
