The Road to COP29: Potentials for the Greater Caspian Region and the Middle Corridor

As global leaders are to assemble in Baku, Azerbaijan for the 29th gathering of the Conference of the Parties (COP29) from 11 to 24 November 2024, the occasion may prove to be pivotal on several fronts. The COP29 summit, like its predecessors, will assess global carbon emissions and international efforts to combat climate change. It will also be a milestone for Azerbaijan to lead discussions toward effective climate solutions and to withstand the scrutiny often faced by host countries with significant energy production.

Nevertheless, holding the COP29 in Baku enhances also significant opportunities. One such opportunity lies in the potential to boost the EU’s engagement with the Greater Caspian Region, which includes the South Caucasus and Central Asia. This region not only presents significant green energy potential to help the EU enhance its energy security and combat climate change, but its strategic location can also help address broader foreign policy challenges.

Indeed, recent developments in Ukraine and the Middle East, such as the Hamas-Israel conflict and the Houthi assaults on freights in the Red Sea, underscore the delicate state of trade connections and commercial routes between Europe and Asia. This instability extends across geopolitical, energy resource, and economic dimensions, with clear risks of global repercussions and escalating international instability. The Caspian region therefore holds significant potential as a linchpin for economic integration along the Trans-Caspian International Transport Route (TITR), or ‘Middle Corridor,’ connecting Europe to China and beyond.

Hence, the European Union should seize this opportunity to ensure that the November 2024 COP29 accelerates the emergence of a new era of connectivity, as well as fostering stability and economic potentials across Europe and Asia.

Author: Luca Urciuolo, EIAS Associate Research Fellow

DONWLOAD THE POLICY BRIEF

Photo Credits: Wikimedia Commons