BAKU, Azerbaijan, May 10. Private companies can contribute to increasing climate finance and supporting climate change mitigation actions in their countries, head of the Environment and Climate Division of the UN Special Group of the UN Global Compact project, Fernando Castellanos said, Trend reports.
He made the remark on the sidelines of the conference of the UN Office in Baku and Pasha Holding, "29 climate conversations: The Road to COP29".
According to him, in 2021, 674 companies from 55 countries demonstrated readiness to adhere to "green" trends to address climate issues.
"In 2022, another 922 companies joined the UN climate initiatives, and in 2023, 1012 companies did so. As a result, we currently have a total of 2608 such companies from 80 countries," Castellanos explained.
He recommended private companies worldwide participate in working programs, funds, and other forms of interaction created to address climate issues.
Castellanos named public-private partnership a priority for cooperation in addressing important environmental issues.
As he mentioned, experts working in the private sector are capable of developing useful and effective solutions that are taken into account and can be considered in various environmental programs and discussions.
The UN expert additionally briefed on the availability of six-month UN training programs for the private sector, helping companies move towards achieving zero greenhouse gas emissions.
To note, 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 Berlin, and its secretariat is located in Bonn.
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