Baku Initiative Dialogue on Climate Finance, Investment and Trade kicks off at COP29

© Photo: Maria Novoselova/ Vestnik Kavkaza

The Baku Initiative Dialogue on Climate Finance, Investment and Trade (BICFIT) was started today in Baku as part of COP29.

One of the key initiatives of the COP29 presidency, the BICFIT Dialogue, will be launched in cooperation with the United Nations Conference on Trade and Development (UNCTAD), the United Nations Development Programme (UNDP), the World Trade Organization (WTO) and the International Trade Centre (ITC), the Ministry of Economy of Azerbaijan reports.

The initiative received the support of the Chairs of the Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC), international organizations, multilateral development banks and climate funds, as well as civil society organizations, global think tanks and academic institutions.

It was launched in support of the UNFCCC and the Paris Agreement on climate change. The initiative aims to establish an innovative, comprehensive platform for dialogue and partnership to strengthen the links between finance, investment, trade and sustainable development, with the participation of global climate, development and trade partners, as well as other stakeholders.