Challenges and Opportunities Created by COP29 for Azerbaijan

Abstract

Armenia's decision  not to obstruct Azerbaijan's candidacy for hosting the COP29 UN climate conference opened Azerbaijan's journey towards hosting COP29 and marked a turning point in the regional dynamics. Azerbaijan, perceiving the significant and multistakeholder dialogue platform on climate change, promptly seized the initiative to host COP29. However, amidst this optimism, it's important to note the potential challenges that Azerbaijan might face in hosting COP29, such as logistical issues, the complex task of phasing out fossil fuels, spending on climate change mitigation, the need to harmonize national legislation, the importance of participation in CSOs, and the necessity to uphold human rights. The government of Azerbaijan needs to fully anticipate and consider these challenges, as the focus was primarily on the expected political gains. This paper presents a meticulous and comprehensive exploration of Azerbaijan's journey towards hosting COP29, delving into the challenges it confronts and the opportunities it stands to gain. The authors' in-depth analysis is valuable for assessing the political dynamics and potential implications of COP29. Among the possible opportunities, hosting COP29 could boost Azerbaijan's international standing, stimulate economic growth through increased tourism and investment, and facilitate knowledge exchange and capacity building on climate change.

Keywords: COP29, UN climate conference, Azerbaijan, fossil fuels, green economy, growth, tourism, investment