Baku Climate Action Week focuses on business ahead of COP29

euronews (in English)

The event is a precursor to the 2024 United Nations Climate Change Conference, which will be held in November in Azerbaijan with the broad aim to combat climate change.

Transcript

00:00This year's COP29 Climate Change Summit is gearing up in Azerbaijan's capital, with governments,

00:10businesses and climate activists meeting to prepare and address the issues of the UN Summit

00:16in November, after another record-breaking summer and autumn of heat waves and devastating

00:23storms.

00:24Azerbaijan is pushing for a new climate financing goal of the previous Paris Climate Agreements

00:30to get the industrialized countries to pay more.

00:33That is really for us a make-or-break issue, because without finance, climate finance and

00:40new finance, the entire global climate architecture may not be what we see today.

00:46So for us, finance is really what keeps Paris Agreement together.

00:51Energy transition is another key aspect of the summit, which is expected to ignite a

00:57major debate at the COP29 with a focus on clean energy goals.

01:02But the needs for oil and gas continue to be an urgent objective for Europe in its constant

01:08quest for energy sources.

01:12Azerbaijan's Deputy Energy Minister told Euronews that his country continues to source energy

01:16for Europe, and gas exportation and exports could continue in this sense if requested.

01:26A focus of this week is how businesses will be involved in the energy transition.

01:30That came with a warning that it would lead to a shift in labor.

01:35Some workers would be in demand, such as engineers, while others could be left behind.

01:40Indian startup founders said the event is a way for them to find financing for their

01:44company that turns metal waste into other products to avoid burning them and releasing

01:50carbon emissions.

01:51Networking here is very important because we meet diverse people at once, you know.

01:58And not only we save time, but we also save our resources by going here and there.

02:03We meet diverse people who come from interesting stratas of the society.

02:09Panelists included workers with businesses deep in the fossil fuel industry, such as

02:13British Petroleum and the Azerbaijan State Oil Company.

02:17Organizers said they wanted to bring a diverse set of people to the table.

02:22Unless we make climate action pay and profitable, probably we are going to be facing a lot of

02:29difficulties in terms of fighting and tackling climate crisis.

02:33The Baku Climate Action Week wraps up on Friday with a look at how to equip young people for

02:39the green jobs market.

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