At the “Power of Collaboration: Unifying Forces for Net-Zero” High-Level Session with the World Economic Forum, held as part of COP29, driving international financial resources to climate issues and expanding partnerships for sustainable development were discussed.
Within the framework of COP29, the “Power of Collaboration: Unifying Forces for Net-Zero” High-Level Session with the World Economic Forum was held, co-organized by the Ministry of Economy, the Export and Investment Promotion Agency – AZPROMO and the World Economic Forum. The session was moderated by Gim Huay Neo, the Managing Director of the World Economic Forum.
Addressing the event, Azerbaijan’s Minister of Economy Mikayil Jabbarov shared insights on principles underlying joint efforts to combat climate change, global policies in this area, and the contributions of the private sector. He highlighted the importance of maintaining inclusive measures and achieving sustainable development to drive positive changes. The need for a fair approach, that includes all nations in addressing global climate issues, was emphasized. He also detailed Azerbaijan’s goals and progress in sustainable growth and green economy initiatives, including targeted efforts to implement advanced technologies and innovative solutions for achieving green energy objectives, stressing the critical role of international collaboration.
Director-General of the World Trade Organization Ngozi Okonjo-Iweala underscored the necessity of aligning global trade policies with climate change imperatives. She emphasized the importance of supporting developing countries in this context, advocating for equitable integration into climate-focused trade systems.
Uzbekistan's Minister of Investment, Industry and Trade Laziz Kudratov expressed his views on international cooperation against global climate change, initiatives of regional countries in this direction, and the importance of implementing joint projects in the field of renewable energy.
Gim Huay Neo, Managing Director of the World Economic Forum and session moderator, opened the discussion by emphasiszing the tremendous opportunities for economic growth and job creation created by the net zero journey, as well as the importance of a collaborative and holistic approach to ensure the benefits and costs are equitably shared.
Rich Lesser, the Global Chair and CEO of Boston Consulting Group and Co-Chair of the Alliance of CEO Climate Leaders, shared that between 2019 and 2022, they successfully reduced overall emissions by 10% while increasing total revenues by 18%. He highlighted the critical need for closer collaboration between the private sector and governments to enhance climate action, emphasizing that clear policies and robust partnership mechanisms are essential for driving meaningful change.
Andrew Forrest, the Executive Chairman of Fortescue company, emphasized the critical role of green energy sources in combating climate change. He highlighted that increasing investments in the renewable energy sector and promoting technological innovations are key to achieving global climate goals.
The participants unanimously stressed the necessity of joint global efforts to address the climate crisis. All stakeholders, including governments, companies, and civil society organizations were called upon to assume shared responsibility and actively engage in combating climate change through concrete action plans.
