Baku Climate Action Week focuses on business ahead of COP29
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.
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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.