The objective of the memorandum is to create a framework for further cooperation in the field of climate changeWithin the framework of the 2024 UN Climate Change Conference (UNFCCC COP 29) held in Baku, Ethiopia and Russia signed a memorandum of understanding on climate change and low-carbon development. The document was signed by Vladimir Ilyichev, Deputy Minister of Economic Development of Russia, and Seyoum Mekonnen, Deputy Minister of Planning and Development of Ethiopia. The main objective of the memorandum is to create a framework for further cooperation in the field of climate change, low-carbon development and sustainable finance, as well as the possibility of implementing climate projects and developing carbon markets. With the support of the Ethiopian side, we managed to adopt the BRICS Framework on Climate Change and Sustainable Development. The Memorandum and the newly established BRICS Contact Group on Climate and Sustainable Development will allow the BRICS countries to fulfil their objectives as effectively as possible.
