Government spokesman highlights efforts to promote a transition to sustainable energy.
Given the importance of fossil fuels to Azerbaijan, the country’s capital of Baku seems an unlikely location for the Nov. 11-22 UN Climate Change Conference, but a government spokesman says the country is fully behind the conference’s goals.
“Balancing pressing climate action with economic interests is a critical challenge that requires a holistic approach,” Yashar Karimov, Azerbaijan’s Deputy Head of the International Cooperation Department of the Ministry of Ecology and Natural Resources tells Food and Energy Trends. “Of utmost importance is shifting towards a green economy, which includes investing in renewable energy, sustainable agriculture, and green technologies that create jobs and drive economic growth while reducing environmental impact.”
The 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) will unite activists, world leaders, and experts on climate change around an agenda focused on moving away from fossil fuels and providing financing for less developed nations to fight climate change.
Meanwhile, rather than moving away from traditional energy sources Azerbaijan has been increasing its role as a fossil fuel exporter in the wake of sanctions against Russia. It’s no wonder Azerbaijan officials are said to be concerned about a shift away from fossil fuels toward more sustainable sources.
Concrete steps toward sustainability
“As a key energy exporter, Azerbaijan has contributed to global energy security, supplying oil and gas to various markets, including Europe, and has helped stabilize energy markets during challenging periods,” Karimov acknowledges.
At the same time, he says, the country is taking concrete steps to help reduce fossil fuel dependence, including launching domestic initiatives and founding a new international Climate Finance Action Fund.
“Azerbaijan is committed to diversifying its energy mix and reducing reliance on fossil fuels. The country’s ‘Socio-Economic Development Strategy for 2022-2026’ outlines specific goals to increase the share of renewable energy in the energy mix and improve energy efficiency,” Karimov says. “Significant investments are being made in renewable energy, including wind, solar, and hydropower projects. Azerbaijan aims to generate a substantial portion of its electricity from renewable sources by 2030, signaling a clear shift towards a more sustainable energy system.”
On the international stage, Azerbaijan is launching a new Climate Finance Action Fund (CFAF) “to invest in climate action in the developing world,” according to a July 19 announcement. Azerbaijan is a founding contributor, and the CFAF will is expected to receive “contributions from fossil fuel producing countries and companies across oil, gas and coal,” the announcement says.
“The Fund will target climate projects, including adoption of clean energy technologies, improve energy efficiency, strengthen climate resilience of vulnerable populations, and facilitate the development of cutting-edge technologies,” according to Karimov. It will be “a catalytic public-private partnership, mobilizing the private sector and de-risking investment. By investing in renewable energy and sustainable infrastructure, the Fund will stimulate economic growth, create jobs, and reduce environmental impacts.”
