The Asian Development Bank (ADB) is currently in discussions with the Azerbaijani government on how it can support the success of COP29, Noelle O’Brien, Director for Climate Change at ADB’s Climate Change and Sustainable Development Department, said in response to a question from Report’s correspondent in Tbilisi.
The ADB supports holding COP29 in Azerbaijan, she noted, adding that the bank is currently exploring how ADB can directly support the COP29 chairmanship.
There are several ways to do this, she said.
In addition, there are various areas of negotiation that will be part of this year’s COP priority, she added. This includes issues such as a new collective quantitative target, which is more ambitious than the currently expected $100 billion.
The ADB expects that this will be part of the process, she noted, adding that the bank also has a question about how much funding will be allocated for adaptation and various other aspects of the global agreements. Therefore, according to the request of the Azerbaijani government, the bank will provide support in this matter.
As for ADB’s interaction with the government, it is also negotiating with them on where the country wants to invest. This is an area of work that involves the bank’s industry teams and the Central and West Asia team, she added.
In November this year Azerbaijan will host the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29).
