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Azerbaijan, a country whose influence in the Caucasus is no longer open to debate, is already recognized as one of Europe's hydrocarbon pioneers. A country steeped in history, Azerbaijan is known for its history of black gold. Did you know that while the discovery of oil in Azerbaijan dates back to the 19th century, the country built its first oil pipeline as early as 1897? Since then, Azerbaijan has embraced this necessary energy source. An impressive revolution for this region, which has rapidly made Baku one of the world's oil capitals.
Since the 1990s, Azerbaijan has sought to revive its oil heritage by developing major deposits in the Caspian Sea. This wealth, while a source of prosperity, has also made the country dependent on hydrocarbons, which account for almost 50% of its GDP and over 90% of its export earnings.
Yet despite this dependence, Azerbaijan has taken the courageous decision to host COP 29, demonstrating its commitment to the energy transition and the fight against climate change. The announcement of an unprecedented partnership between the United Arab Emirates, Azerbaijan and Brazil to achieve the goal of limiting global warming to 1.5°C is further proof of this determination.
This partnership, established at COP 28, aims to strengthen international cooperation and keep the 1.5°C target within reach of the Paris Agreement signed in 2015. It underlines the major need to maintain this ambitious target, in the face of increasingly alarming climate forecasts.
However, the transition to a low-carbon economy cannot be achieved without adequate financial support, particularly for developing countries. Azerbaijan and its partners recognize this tribulation, and are committed to releasing funds to help these nations meet the challenges of climate change.
At COP 29, one of the focal points of discussions will therefore be the issue of climate financing for developing countries. While current commitments are encouraging, with wealthier countries approaching their initial pledge of $100 billion a year, it is clear that further efforts will be required to meet the real needs of the most vulnerable nations.
Mukhtar Babayev, Azerbaijan's Minister of Ecology and Natural Resources, describes himself as a "bridge-builder between the developed and developing worlds". His commitment to advancing negotiations and promoting stronger international cooperation is essential to the success of COP 29.
Indeed, COP 29 will not only be an opportunity to discuss climate challenges, but also to find realistic and inclusive solutions to overcome them. Discussions will not be confined to political aspects alone, but will also address the scientific, technological and social issues involved in the transition to a sustainable economy.
So wouldn't COP 29 be an opportunity to raise public awareness of the climate emergency and encourage individual and collective action? Since each and every one of us has a role to play in the transition to a greener future, COP 29 offers CIS countries a platform for taking action and moving in the right direction.
It's a way for Azerbaijan, its government, and its people to make their voices heard, and to shine on the international stage.
