COP29 President addresses participants of ESG Summit in Baku

  03 July 2024    Read: 757
COP29 President addresses participants of ESG Summit in Baku

Mukhtar Babayev, COP29 President and Minister of Ecology and Natural Resources of Azerbaijan, delivered a video address at the opening of the ESG Summit: Public-Private Partnership (PPP) for Sustainable Development Goals (SDG) in Baku, reports.

"ESG is about environment, society, and governance. Public-private partnership is gaining importance in financing strategic projects, which are becoming green projects," the minister said.

According to him, it is important for investors to follow ESG policies in financing, as it increases credibility and reduces risks.

"Nowadays, PPP and ESG work hand in hand to promote the sustainable growth of the economy and its various sectors, including urbanization, agriculture, healthcare, and sustainable water supply. The government and private sector need to work together using ESG practices. This is crucial for adapting the energy transition and insuring investors' risks," the minister added.

He expressed satisfaction and appreciation for PwC's involvement, as the organizer of the conference, in these processes.

Mukhtar Babayev also highlighted that ESG is a crucial aspect of COP29 negotiations, which focus on inclusiveness and the preparation of transparent reports on countries' actions to combat climate change.

The minister expressed confidence that the PPP cooperation mechanism will help achieve a green world and a sustainable future.

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