This side event at COP 29 in Baku, Azerbaijan, co-organized by CEBRI and the AIR Center, brings together Brazil, Azerbaijan, and the United Arab Emirates (UAE) to discuss the role of the oil and gas sector in the energy transition. The focus is on addressing the unique challenges these developing countries face in reducing their dependence on fossil fuels and minimizing the risks of stranded assets and carbon lock-in effects. The discussion aims to explore innovative climate finance mechanisms, such as Azerbaijan's Climate Finance Action Fund proposal and Brazilian initiatives for environmental restoration. The event facilitates dialogue between government, private sector, and civil society to find practical solutions for a low-carbon economy.
This side event at COP 29 in Baku, Azerbaijan, co-organized by CEBRI and the AIR Center, brings together Brazil, Azerbaijan, and the United Arab Emirates (UAE) to discuss the role of the oil and gas sector in the energy transition. The focus is on addressing the unique challenges these developing countries face in reducing their dependence on fossil fuels and minimizing the risks of stranded assets and carbon lock-in effects. The discussion aims to explore innovative climate finance mechanisms, such as Azerbaijan's Climate Finance Action Fund proposal and Brazilian initiatives for environmental restoration. The event facilitates dialogue between government, private sector, and civil society to find practical solutions for a low-carbon economy.