Azerbaijan, the host of this year’s COP29, has announced a package of 14 initiatives as part of the summit’s action agenda. These initiatives aim to enhance ambition and enable agenda.??
- Climate Finance Action Fund (CFAF)- Supported by voluntary contributions from fossil fuel producing countries and companies, aims to drive public and private sector efforts in mitigation, adaptation, and research and development.?
- Baku Initiative for Climate Finance, Investment and Trade Dialogue- Establish a collaborative platform for the international community to focus on climate finance, investment, and trade.?
- Just Transition Investment Partnership (JTIP) 4 Jobs and Skills- Create a collaborative platform to connect skills development financing needs with available MDB financing instruments and explore synergies with other financing sources.?
- Green Energy Pledge- It strives for commitment to green energy corridors, zones, and grids.??
- Green Energy Storage Pledge- It aims to increase the resilience and efficiency of energy storage to reach 1,500 GW by 2030.?
