Arpadarai: Business key in turning commitments into real economic action

The participation of businesses, investors, technology companies, local communities and civil society is essential for implementing global commitments in the real economy, Nigar Arpadarai, UN Climate Change High-Level Champion, said at the 9th Sustainable Development Goals (SDGs) Dialogue in Baku, Report informs.

Arpadarai said that this was precisely why the COP29 Presidency had worked to strengthen private-sector participation in the climate agenda.

"This is because reducing emissions, modernizing energy systems, introducing new technologies and transforming production processes are impossible without the active involvement of businesses. The private sector is not only a source of finance, but also brings technology, innovation, management expertise and new business models. Therefore, we should not view business as an actor standing outside climate policy, but as one of the key partners in its implementation. We continue to work with all actors in society on combating climate change," she said.

Arpadarai noted that global climate commitments should be viewed not only as part of the international agenda, but also from the perspective of Azerbaijan's national development goals.

"We must consider the connection between every global initiative and our country's economic interests, energy security, competitiveness and long-term development prospects. This is exactly the essence of the Nationally Determined Contributions (NDC) process: not to place global climate goals and national interests in opposition to one another, but to identify areas where they intersect and reinforce each other. Azerbaijan's updated NDC sets a target of reducing greenhouse gas emissions by 40% by 2035 compared to the 1990 baseline level. As already announced, this means bringing forward the 40% reduction target previously set for 2050 to 2035. In other words, we now face a specific commitment that must be fulfilled within a much shorter timeframe. At the same time, achieving this target requires additional international financial support, as well as access to and transfer of technologies," she added.