BAKU, Azerbaijan, February 5. Secretary of State and Special Representative of Germany for International Climate Action at the German Foreign Ministry Jennifer Morgan visited Baku and held negotiations with the Minister of Ecology and Natural Resources of Azerbaijan, the Minister of Energy, and other officials, as well as with the press last week, Trend reports.
“I wanted to arrive early because the climate crisis is occurring. It's intense. So, there is no time to waste, and it is vital that we all, as a global community, build on the momentum of COP28. I believe it's also really fascinating that we're in Baku this year," she said. "Azerbaijan, being the first country to explore and produce oil on a larger scale, now comes to transition away from fossil fuels and to move rapidly to renewable energy and energy efficiency. And we've heard from the government their interest in shifting, transitioning away to renewable energy."
As for the implementation of the UN Paris Climate Agreement, Morgan noted that this document, joined by about 140 countries around the world, has three goals.
“It has the goal of keeping the global average temperature within a range of 1.5 degrees Celsius. And with that goal comes what countries have agreed as emission reduction targets: globally, at 43 percent by 2030, moving towards net zero by 2050 around the world. So that's the first goal of the Paris Agreement. The second one is really around resilience and adaptation. And the last goal is around finance,” she emphasized.
According to her, within the transformation process, it's needed to shift the global financial system away from financing fossil fuels and unsustainable land use into renewable energy, energy efficiency, sustainable land use, and decarbonization of the industry sector.
"The key one for the COP is one called the New Collective Quantified Goal,” she said.
Morgan also said that Germany will host the 15th Petersberg Climate Dialogue, and Azerbaijani representatives will take part in the event.
"We will do everything that we can to make sure that this COP implements itself against the last one and continues that momentum,” she said.
During a press conference, Morgan also noted that many of the decisions from COP28 will need mechanisms and ways of implementing them at COP 29 in Azerbaijan.
"One key mechanism is related to nationally determined contributions and certainly the financing, and it is important to get more and more clarity about how countries develop their nationally determined contributions," the special representative stressed.
During a meeting with Morgan, Azerbaijani Minister of Energy Parviz Shahbazov discussed issues of activity within the framework of the upcoming COP29 in Baku and interaction on the green energy transition.
It was noted that Azerbaijan's proclaimed strategy for green economy growth until 2030, the declaration of 2024 as the "Year of Solidarity for a Green World," and the hosting of COP 29 in Baku will all contribute to the green energy transition process.
"The construction of solar and wind power facilities in Azerbaijan will boost the country's total electricity generation from renewable energy sources (RES). This generation can be transferred through a specific energy corridor in collaboration with four countries to Europe," the press release noted.
Shahbazov also announced his intentions to establish green energy zones in various Azerbaijani regions.
Deputy Foreign Minister of Azerbaijan Yalchin Rafiyev, speaking at the I Baku Youth Event on Climate Negotiations, said that addressing climate change demands substantial funding, prompting countries to thoroughly assess their willingness to contribute before engaging in climate negotiations.
Secretary General of the Inter-Parliamentary Union (IPU), Martin Chungong, exclusively said that one crucial dimension of the IPU-Azerbaijan cooperation is related to the fight against climate change.
"This year, Azerbaijan has been selected to host COP29. It is a very important responsibility indeed, and I want to commend Azerbaijan on its appointment to host that summit. And like for every major global process, IPU seeks to mobilize parliaments to complement the efforts that are being made by governments and other stakeholders, especially in this particular area of climate change," said the IPU secretary general. "As we know, climate change is an existential threat to humanity, and all hands need to be on deck to take action that is intended to mitigate this inexorable emergency that we are facing today. It is another issue that I have discussed with the authorities in Azerbaijan, and I am pleased that we are able to count on the support of the parliament here in Baku to organize a parliamentary summit during COP29 to mobilize support by parliaments for climate action in the context of the Paris Agreement."
He reminded that in Dubai, there was a decision taken to transition out of fossil fuels.
"How can parliaments help legislate and put in place policies that are climate-clean so that people don't resort to fossil fuels anymore? What are the compensatory mechanisms that need to be put in place? There are many countries today that are dependent on fossil fuels for their revenue, for the bulk of their revenue. So how do you create alternatives to fossil fuels that are beneficial not only to consumers and general society but also to the people who produce fossil fuels? These are some of the discussions that can take place in the parliamentary context, with a view to legislating and providing resources," the IPU secretary-general added.
The Center of Circumstances within the National Hydrometeorological Service of the Ministry of Ecology and Natural Resources of Azerbaijan obtained IT equipment within the scope of the project "National Adaptation Plan," implemented in collaboration with the United Nations Development Program (UNDP).
This project is implemented with the support of the UN Green Climate Fund, and the IT equipment will help the Center of Circumstances under the National Hydrometeorological Service improve data exchange.
Alessandra Roccasalvo, acting UNDP Resident Representative in Azerbaijan, visited the Situation Center and stated that in the future, projects will be implemented together with Azerbaijan to strengthen early warning systems and improve the dissemination of various types of climate information.
"During its chairmanship of COP29, Azerbaijan aspires to expand its contribution to the global battle against climate change and continues to follow a course of "green development" and expedite decarbonization," Azerbaijani Energy Minister Parviz Shahbazov said during the meeting with Executive Secretary of the UN Framework Convention on Climate Change Simon Stiell.
Shahbazov stated that COP 29 will serve as a platform to demonstrate Azerbaijan's contribution to the global energy transformation process.
He told Stiell about reforms related to Azerbaijan's transition to a producer and exporter of renewable energy, including plans to export green energy into Europe.
Stiell noted that Azerbaijan's experience in organizing many international events will contribute to the success of COP29.
During the meeting, it was agreed to organize a joint workshop on the energy focus of COP29.
Speaking at the ADA University in Baku on February 2, Stiell said at a lecture that an Olympic effort will be needed over the next two years to meet the UN's 2030 and 2050 climate targets.
"The governments of the world at one time consciously joined the Paris climate agreement. I think it is pragmatic and achievable to achieve a 43 percent reduction in greenhouse gas emissions by 2030, and this was mentioned at COP28.
I see a global energy system with zero greenhouse gas emissions. The UN has been trying for 25 years to change the approach to the issue of environmental protection through necessary measures in the industrial sector and agriculture. The health of all people on Earth depends on it," the Executive Secretary of the UNFCCC said.
He added that decarbonization is now an important part of the transformation of the world's economies.
"The UN will present major research on the achievements of the implementation of the Paris Climate Agreement in 2025, and it is important for us to step up our efforts," Stiell added.
According to him, issues of climate finance to reduce greenhouse gas emissions will be key at the upcoming COP29 in Baku in November.
"COP29 in Baku will be a very important meeting to achieve our shared ambitions. Interaction with international financial institutions (IFIs) and development banks will create confidence in the possibilities of realizing climate goals," Stiell said.
He expressed hope that in 2024, private banks and IFIs will be able to demonstrate their intentions to support climate action.
The Azerbaijani Minister of Economy, Mikayil Jabbarov wrote on X that Azerbaijan and the International Finance Corporation (IFC) have discussed expanding cooperation scope within COP29.
"During our meeting with Jamie Fergusson, the Global Director for Climate Business and head of the COP Engagement Team at the International Finance Corporation (IFC), our discussions centered around key issues on the agenda of our country’s cooperation with the institution," Jabbarov noted.
According to the minister, along with expanding the scope of cooperation with the IFC on COP29, the key issues were support for the green energy transition and energy security, as well as promotion of public-private partnerships.
The World Bank (WB) has announced a tender to find a consulting company to study geothermal potential in Azerbaijan.
The consultant will be tasked with assessing information on geothermal resources in Azerbaijan, reservoir characteristics (size, shape, productivity, and water level), as well as opportunities for technical and economic application of the resources in heating systems and for other energy purposes.
"This work will help the WB provide recommendations to the government of Azerbaijan on the development of a roadmap for the development of geothermal resources and their future utilization," the bank noted.
Proposals from candidates on the terms of the tender will be accepted until February 8.
Meanwhile, there are many thermal water sources in Azerbaijan, particularly in the mountains of the Lesser and Greater Caucasus, the Absheron Peninsula, Lankaran, and Karabakh, and their utilization is in line with the Azerbaijani government's strategy to create a green economy.
As Board Governor of the Central Bank of Azerbaijan (CBA) Taleh Kazimov said, with Baku's COP29 looming, many innovative products in the field of sustainable finance may enter the country's market.
"Azerbaijan will host COP29, a renowned event. It is a wonderful opportunity for our country to host it. This process involves the entire country's structures," Kazimov noted.
According to him, Azerbaijan's efforts to issue "green loans" and "green bonds" are not only the responsibility of the CBA.
"Green loans" should be in demand among businesses. The bank can then take action in this regard. The situation regarding "green instruments" of funding is being examined," he added.
Implementing a renewable energy certificate system in Azerbaijan will significantly contribute to shaping the electricity market and encouraging the utilization of renewable energy sources, Head of Project Management Department of Azerbaijan Renewable Energy Agency (AREA) under the Ministry of Energy of Azerbaijan Jabrayil Aliyev told Vergiler (a local newspaper).
The first “green certificate” of a green energy producer in Azerbaijan was received by Masdar Company, which completed its inaugural facility in Azerbaijan, a 230 MW solar power plant in the Garadagh district of Baku, costing $262 million.
Aliyev also said that Azerbaijan's legal framework for the development of renewable energy sources (RES) has created incentives for the country's citizens to independently use solar panels or other RES sources to generate green energy, the surplus of which can go to the power grid and provide income to the producer of such electricity.
Abu Dhabi Future Energy Company (Masdar) has joined the Global Wind Energy Council (GWEC).
The GWEC represents the interests of the global wind energy industry. Engagement in GWEC facilitates the coordination of efforts to advance the UN climate agenda within the context of combating global warming.
Masdar's portfolio includes a dozen projects related to wind energy worldwide.
Regarding Azerbaijan, the company is exploring the potential construction of renewable energy sources (RES) facilities with a total capacity of 10 GW. Plans for four GW have been detailed, including the construction of multiple wind farms on land and in the Caspian Sea.
Masdar is also preparing proposals for the production of green hydrogen for the Ministry of Energy of Azerbaijan.
"To attain zero greenhouse gas emissions by 2050, global investments in the production and utilization of green hydrogen should amount to $3.4 trillion," according to the study of BloombergNEF's Energy Transition Investment Trends 2024.
In 2023, global investments in all hydrogen-related projects, encompassing steel, transportation, fertilizer, and renewable energy sources (RES), amounted to $30 billion, with a direct investment of $10 billion in green hydrogen production, marking a threefold increase from the 2022 figure.
