Industry expert: Azerbaijan’s renewable energy ambitions could position it as global leader

Azerbaijan is poised to become one of the world's key energy centres, leveraging its vast potential in renewable energy, according to Jean Baderschneider, Member of the Board of Directors at Fortescue Ltd., head of the Global Campaign Against Human Trafficking, and former Vice President of ExxonMobil.

Speaking at a press conference, Baderschneider highlighted Azerbaijan’s strategic position and resources that could transform it into a leading energy hub on the global stage, Caliber.Az reports via local media.

Baderschneider pointed to the country’s significant potential in wind, solar, and hydroelectric power as key assets that could contribute to meeting the world's growing energy demands. "The world is changing, and Azerbaijan has the opportunity to be at the centre of this transformation," she stated, noting that the country has already played an important role in supporting Europe’s energy needs in recent years.

She emphasized that climate change, a critical global challenge, requires action, and Azerbaijan is positioning itself to be a leader in this effort. “Last year, Azerbaijan made a strong statement at COP29, making bold commitments and actively participating in global discussions,” Baderschneider noted. She underscored that climate change is an existential problem, and Azerbaijan’s active involvement on the world stage will be essential in addressing it.

At COP29, held in Baku in November 2024, Azerbaijan made significant progress in the global fight against climate change, including an impressive increase in climate finance commitments. The country was instrumental in pushing for a dramatic rise in funding for climate projects, with the aim of increasing climate finance to $300 billion annually by 2035. This is a substantial increase from the previous target of $100 billion.

Baderschneider, who also serves on the Board of the Nizami Ganjavi International Center, spoke about the upcoming Global Baku Forum, which will take place from March 13-15, 2025. One of the key discussion points will be how to turn the "Baku to Belem" roadmap into a success, particularly following debates at COP29.

“There were some disagreements about the finance target at COP29, with many arguing it should be $1.3 trillion. However, the action plan developed towards the end of the conference provides a brilliant solution to this challenge,” Baderschneider said. She also addressed the changing global climate, with particular concern over the United States' recent shift on climate commitments, noting the challenges this presents for future negotiations.

COP29 was a milestone in climate diplomacy, with Baku welcoming approximately 70,000 international participants, including political leaders, environmental experts, and private sector representatives. During the conference, Azerbaijan’s COP29 Presidency introduced the Baku Finance Goal (BFG), aimed at mobilizing $1.3 trillion in climate finance annually for developing nations.

With Azerbaijan’s commitment to supporting global climate efforts and its vast energy potential, Baderschneider believes the country will continue to play a crucial role in both regional and global energy transitions.

By Tamilla Hasanova