WTO to support COP29 in Baku through trade-focused events

"The World Trade Organisation's Secretariat, led by Director-General Ngozi Okonjo-Iweala, will support and collaborate on various trade-focused events scheduled during the conference," the WTO said in a statement.

The Director-General will participate in the World Leaders Climate Action Summit on November 12 and 13, as well as several high-level events planned at the COP29 Trade and Investment House and other venues.

A dedicated COP29 portal on the WTO website will provide information on the events. Additonally, several publications will also be launched by the Secretariat and partners during COP29, the statement added.

Conference of Parties (COP) will have its 29th UN annual conference on climate change, in Baku, Azerbaijan from November 11 to November 22.

Throughout the conference, activities will be held at the Trade and Investment House pavilions, which is being hosted by Azerbaijan's Ministry of Economy in collaboration with the WTO, the International Chamber of Commerce (ICC), the International Trade Centre (ITC), and the United Nations Conference on Trade and Development (UNCTAD).

Just like in COP28 which took place in UAE, the pavilions will serve as a dedicated space for engagement on critical issues at the intersection of trade, investment, and climate action as well as for hosting interactive discussions, exhibits, workshops, and demonstrations that showcase innovative trade, investment and climate solutions.

A Climate Finance, Investment and Trade (FIT) Day on November 14 will be observed to provide the opportunity for dedicated discussions on how trade and investment can be leveraged to amplify climate finance flows and support developing countries on the "just transition".

Participants will be invited to examine the key role that trade and trade policies can play in achieving climate objectives and help promote sustainable development.

The Azerbaijan COP Presidency will also highlight several of its initiatives while special high-level events will explore specific issues such as sustainable stock exchanges, efforts to decarbonize the steel and hydrogen sectors, and integrating small and medium sized enterprises, particularly from developing economies, into low carbon value chains, the WTO statement added.

The 'Conference of the Parties' or 'COP' is an annual event that brings together the governments who are a part of the United Nations Framework Convention on Climate Change, or the international environmental treaties like the Kyoto Protocol.

COP 28 took place in UAE last year which saw the creation of a global stocktake and marked the first time that nearly 200 countries agreed to transition away from fossil fuels in energy systems. (ANI)