Azerbaijan aims to lead in green energy, minister announces at COP29

Azerbaijan is working to establish itself as a leader in the field of "green energy," Economy Minister Mikayil Jabbarov stated during his address at the ministerial meeting of the Central Asia Regional Economic Cooperation (CAREC) Program on climate, innovation, and trade, held on the sidelines of COP29 in Baku.

During his speech, Jabbarov outlined Azerbaijan's ambitious environmental goals, including a target to reduce greenhouse gas emissions by 40 per cent by 2050, Caliber.Az reports per local media.

The country is also focused on enhancing its renewable energy potential, with the aim to increase the share of renewable energy in total energy production to 30 per cent by 2030.

"We aim to diversify our energy system and become a leader in the field of 'green energy,'" Jabbarov emphasized.

The Minister further highlighted a significant step towards regional cooperation in the green energy sector, noting the recent signing of the "Agreement on Strategic Partnership between the governments of Azerbaijan, Kazakhstan, and Uzbekistan in the field of development and transmission of green energy."

Jabbarov explained that this agreement will not only unify the renewable energy and common energy systems of the three countries but also bolster the expansion of the Middle Corridor concept. This will include the potential for exporting renewable energy from Central Asia to Azerbaijan. Furthermore, he added that Azerbaijan is engaged in similar projects with Georgia, Bulgaria, Romania, and Hungary to facilitate the export of green energy to European markets via the Black Sea.

"We are not only working in this sphere, but we are also striving to coordinate our actions across borders," Jabbarov stated, emphasizing the country’s collaborative approach to green energy development.

The minister also pointed out the Baku Declaration on CAREC Partnership for Climate, Innovation, and Trade, which he described as a new platform for cooperation in the social, economic, and environmental spheres within the CAREC region. "This declaration will support trade initiatives, the application of artificial intelligence, and measures to mitigate and adapt to climate change. These approaches will help advance the adoption of green principles and strengthen climate and trade dialogues," Jabbarov explained.

In addition to green energy initiatives, Jabbarov highlighted the significant role of the CAREC Program in promoting regional development. The program, which is supported by member countries of the Asian Development Bank (ADB), has contributed to strengthening regional connectivity through investments in various sectors. These efforts have stimulated research, knowledge sharing, and the adoption of best practices, Jabbarov noted.

ADB President Masatsugu Asakawa also addressed the meeting, stressing the importance of CAREC taking decisive steps towards ensuring a low-carbon future. "It is time for CAREC to prioritize environmental sustainability and economic well-being in member countries," Asakawa said, adding that the ADB stands ready to support CAREC's efforts to achieve sustainable change for future generations.

By Vafa Guliyeva