Asakawa: ADB pleased to contribute to success of COP29

The Asian Development Bank (ADB) is pleased to contribute to the success of COP29 in Baku, ADB President Masatsugu Asakawa said at a press conference within the framework of the 57th annual meeting of the bank in Tbilisi, Report's correspondent informs from the Georgian capital.

"We have already proposed what ADB could do for this event. It is very important that Azerbaijan, as an oil-producing country, will host COP this year," Asakawa said, adding that this testifies to the country's commitment to energy transition.

"Azerbaijan is a major oil and gas producer, so it is important for the country to chair COP29 to discuss how to ensure a smooth transition from fossil fuels to renewable energy sources. This is also ADB's priority," he added.

Azerbaijan will host the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) in November this year.