Azerbaijan, EBRD mull strengthening green economy cooperation at COP29

Azerbaijan’s Economy Minister Mikayil Jabbarov has met with Jürgen Rigterink, First Vice President of the European Bank for Reconstruction and Development (EBRD), to discuss the growing partnership between the country and the EBRD, particularly in the areas of green economy and climate action.

The meeting highlighted Azerbaijan's active participation in global climate efforts, with a special focus on the ongoing 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, which is underway in Baku, Caliber.Az reports.

Both sides acknowledged the importance of promoting a green economy as a key priority in Azerbaijan’s socio-economic development goals.

Discussions also centered on strengthening joint efforts in green energy, renewable and alternative energy sources, public-private partnerships, and infrastructure projects. The importance of transitioning to low-carbon energy solutions and diversifying cooperation in this area was emphasized. The prospects of enhancing Azerbaijan-EBRD collaboration within the context of COP29 were also explored.

Jürgen Rigterink reaffirmed the EBRD's commitment to supporting Azerbaijan's development, noting that the country’s economic potential offers significant opportunities for expanding their partnership. He also stressed the importance of the events taking place at COP29, emphasizing their role in addressing climate change and advancing sustainable development.

The sides exchanged views on potential joint projects and the long-term benefits of Azerbaijan-EBRD cooperation in combatting climate change and fostering sustainable growth.

By Vafa Guliyeva