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BAKU: The highly anticipated COP29 UN climate change conference opens on Monday in Baku, Azerbaijan, bringing together world leaders, experts, and activists to tackle the urgent environmental challenges facing the planet.

Running through Nov. 22, this year’s event is centered around the theme “In Solidarity for a Green World.”

With over 50,000 participants expected, including top industry leaders and policymakers, COP29 aims to drive global climate action. However, several key leaders — EU President Ursula von der Leyen, US President Joe Biden, and Brazil’s President Luiz Inacio Lula da Silva—will be notably absent, according to Reuters.

COP29 has a special focus on climate finance, as parties aim to set a New Collective Quantified Goal on funding. 

Expectations are high as delegates prepare to discuss topics including carbon emissions reduction, sustainable development, and the integration of climate resilience into national policies. 

Azerbaijan is a significant producer of fossil fuels, just as last year’s host the UAE, but COP29 President-Designate Mukhtar Babayev told Arab News recently that hosting the conference is a sign of change.

“Like ��������Ƶ, Azerbaijan has historically been a significant energy producer, particularly in oil and gas. Hosting COP29 signifies our shift from traditional energy sources to embracing renewable energy solutions,” he said. 

“This event will allow us to showcase our ongoing efforts to diversify our energy mix, investing heavily in wind, solar, and hydrogen energy projects,” he added. 

The conference aims to deliver support for urgent action and foster a sense of shared responsibility between international organizations. 

Babayev highlighted Azerbaijan’s role in coordinating global efforts. “We hope that COP29 in Azerbaijan will serve as a platform for developing nations to voice their unique climate challenges and solutions.

“As a country that has faced environmental and economic transformation, Azerbaijan understands the delicate balance between development needs and climate responsibility,” he said. 

He added: “We can facilitate inclusive dialogues between the Global South and developed nations to ensure that climate action is equitable and just.” 

Commenting on the country’s preparations for the influx of visitors, Babayev said: “In terms of logistics and to ensure Baku is ready to host thousands of delegates from across the globe, we have been investing in the city’s infrastructure, with a strong emphasis on sustainability.” 

Moreover, investments are being made in expanding green public transportation options, enhancing conference facilities, and optimizing urban mobility to minimize environmental impact during the event, he stated.

“Additionally, we are committed to achieving a green COP by integrating renewable energy into the event’s operations and aiming for a zero-waste policy throughout the conference,” said Babayev. 

Some of its established environmental protection initiatives, according to Babayev, include reforesting degraded areas and protecting the Caspian Sea. 

“COP29 will spotlight these initiatives and encourage international collaboration to replicate them.” 

Although the path ahead is challenging, COP29 represents a crucial opportunity to turn ambition into tangible results for generations to come. 

“We are prepared to lead, innovate, and foster the international cooperation needed to tackle the climate crisis and build a more sustainable future for all,” said Babayev.

RIYADH: Agreements exceeding SR35.4 billion ($9.42 billion) were signed at Biban 24 in Riyadh, an event organized by the General Authority for Small and Medium Enterprises, also known as Monsha’at

The five-day event, themed “A Global Destination for Opportunities,” attracted over 182,000 visitors, reflecting the Kingdom’s rapid development in the SME sector and entrepreneurship, the Saudi Press Agency reported.

According to Monsha’at Gov. Sami bin Ibrahim Al-Husseini, Biban 24 marked a landmark achievement for ��������Ƶ’s entrepreneurial framework. He highlighted the forum’s record-setting agreements and innovative initiatives, strengthening entrepreneurship within the country. 

Al-Husseini emphasized that these achievements align with Vision 2030’s objectives to boost the SME sector’s contribution to the national gross domestic product. 

“The forum’s success is a testament to the commitment of public and private sector enablers, partners, and sponsors to support SMEs and empower entrepreneurs to launch and grow their ventures,” he said.

Biban 24 featured partnerships with prominent international organizations, including the Estonian Business and Innovation Agency, Bahrain’s Tamkeen Labor Fund, and the Korea Franchise Association, as well as Malaysian SMEs, Korea’s Ministry of SMEs and Startups, Malaysian Franchise Development, Miltton CIO World, Alibaba Cloud, Zoom, and Oracle. 

Several financing agreements were signed with local banks, amounting to over SR15 billion to support Saudi entrepreneurs and SMEs.

The event drew a global crowd of business owners and featured over 300 panels and workshops with over 250 international and local speakers. 

The e-commerce section included 59 service providers and enablers, showcasing emerging technologies, modern retail, and e-commerce solutions. Specialists provided guidance on digital payments, online marketplaces, and supply chains throughout the forum.

Biban Talks, a dedicated stage, hosted over 100 speakers covering diverse topics such as media, tourism, and the environment, as well as education, sports, finance, investment, and the non-profit and financial sectors. 

This interactive platform enabled entrepreneurs to share success stories and discuss the challenges they encountered.

In the Investor Arena, over 115 business owners showcased their projects to potential investors, resulting in preliminary agreements for deals with 65 companies, totaling over SR15 million. 

The event also welcomed more than 1,350 startups from 72 countries worldwide. 

Biban 24 celebrated the graduation of 12 startups from its Real Estate Innovation Accelerator, while also launching a virtual lab to support business owners.

The event brought together over 70 local and international incubators and accelerators to showcase projects and share success stories. The forum also promoted collaboration between entrepreneurs and investors, aiming to build a robust entrepreneurial environment that fosters innovation and economic growth in ��������Ƶ.

Asrar Al-Omiri, CEO of “A’akelha Incubator,” said that Biban 24 was an essential platform for startup hubs and accelerators to spotlight their supported projects. 

She added that A’akelha’s participation through the “360 Platform” virtual incubator aimed to showcase success stories and assist projects in expanding through investment rounds. 

Al-Omiri highlighted the launchpad’s commitment to attracting entrepreneurs and offering an ideal environment for transforming ideas into scalable businesses.

Ghassan Halawa, founder and CEO of Parachute16, affirmed that Biban 24 is the leading event focused on high-growth startups and entrepreneurship. 

Halawa underscored the extensive local and international participation, which allows business incubators to showcase projects and directly engage with investors and key players in the entrepreneurial space.

Lama Ghalayini, business development specialist at VentureTactics Fund, described Biban 24 as a valuable opportunity for fintech startups to enhance their investment prospects. 

She said the forum provides a crucial platform for entrepreneurs to understand the fund’s role in enabling startups to overcome financing challenges through innovative solutions that foster their market growth.