At the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29), held in Azerbaijan, Russia and Ethiopia signed a memorandum of understanding on climate change and low-carbon development. This is reported by Fana Broadcasting Corporate, a partner of the TV BRICS network.
The document was signed by Vladimir Ilyichev, Deputy Minister of Economic Development of Russia, and Seyum Mekonen, Deputy Minister of Planning and Development of Ethiopia.
The memorandum aims to create a framework for further cooperation between Moscow and Addis Ababa in the field of climate change, low-carbon development and sustainable financing, as well as for the implementation of climate projects and the development of carbon markets.
Ilyichev noted that in the year of the BRICS presidency, Russia has paid special attention to the climate agenda. He recalled that with the support of the Ethiopian leadership, the association managed to adopt the BRICS Framework on Climate Change and Sustainable Development.
“In the near future, we expect Ethiopia, as a new member of the BRICS, to sign a memorandum of partnership on carbon markets, which we have recently drawn up with the countries of the association. Such a partnership will allow the BRICS countries to discuss a wide range of issues related to the development of carbon markets, and in the future – to trade carbon units,” he is quoted on the website of the Ministry of Economic Development of the Russian Federation.
It is noted that the memorandum and the recently established BRICS Contact Group on Climate and Sustainable Development will allow the member countries of the association to more effectively carry out their tasks.
According to the document, the parties agreed to conduct joint research and development in the field of energy efficiency and adaptation to climate change, share best practices in reducing greenhouse gas emissions, sustainable and green financing, as well as share practices for implementing carbon regulation mechanisms.
Within six months after the signing of the memorandum, the countries will create a working group. Representatives of the regions and business circles, as well as experts from Russia and Ethiopia, will be able to participate in its meetings.
Source https://tvbrics.com/news/rossiya-i-efiopiya-podpisali-memorandum-o-vzaimoponimanii-po-voprosam-nizkouglerodnogo-razvitiya/
