BAKU, Azerbaijan, February 19. Senior Legal Manager at PwC Azerbaijan Leyla Sadikhova commented last week on the hosting of 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) in November this year in Baku, Trend reports.
"I consider the announcement of Baku hosting the upcoming COP29 climate conference in November 2024 as unsurprising. Primarily, Azerbaijan has consistently upheld its international commitments toward achieving the UN Sustainable Development Goals (SDGs) and combating climate change. As a partner of the Conference of the Parties to the UN Framework Convention on Climate Change, Azerbaijan actively contributes to global efforts against climate change. Recent developments, such as SOCAR signing the Decarbonization Charter and voluntary commitments made at COP28 to reduce methane emissions in 2023, underscore Azerbaijan's dedication to this cause," she said.
Sadikhova views the unanimous decision to host the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change in Azerbaijan as a significant demonstration of the international community's profound respect and trust in Azerbaijan.
According to her, this decision also signifies approval of Azerbaijan's efforts in environmental protection and combating climate change at national, regional, and global levels.
"Azerbaijan has committed to reducing greenhouse gas emissions by 35 percent by 2030 compared to 1990 levels, with a further reduction target of 40 percent by 2050," the senior manager pointed out.
Azerbaijan's Minister of Ecology and Natural Resources, President of COP29 Mukhtar Babayev met with COP28 President Sultan Al-Jabir on the sidelines of the Summit of World Governments-participants of COP in Dubai.
The parties discussed collaboration on the road to COP29.
Babayev participated in discussions themed “Climate action through promoting sustainable finance”.
Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva also held a meeting with Babayev in Dubai.
Moreover, the President of COP29 met with Achim Steiner, Administrator of the United Nations Development Program (UNDP), during the World Government Summit in Dubai.
During the meeting the climate problem and cooperation were discussed.
Steiner shared his delight with the meeting on social media.
"The climate crisis requires cooperation, and UNDP is ready to support COP29's bold actions to combat climate change," Steiner wrote.
The hosts of the UN climate conferences in 2023-2025 - the UAE (COP 28), Azerbaijan (COP 29), and Brazil (COP 30) - announced in Dubai the formation of functional 'Trio' to help achieve the goals of the climate agenda.
"Representatives of the parties met in Dubai to join forces to implement joint actions to combat climate change. The parties will work on a roadmap to achieve the goal of keeping the global temperature rise within 1.5 degrees," the COP28 account noted.
Azerbaijan prioritizes addressing global issues associated with climate change, said Babayev during the forum "Tax system in the new development period: Strategic Goals for a Sustainable Economy" held in Baku.
According to him, Azerbaijan has made a number of efforts, such as increasing renewable energy usage and developing more efficient green technology.
Numerous events are being carried out in the country to plant trees. About four million trees were planted in the country in 2023 alone, he noted.
"COP29 focuses prominently on climate finance," Babayev pointed out.
According to him, worldwide investments in clean energy and green technology should be expanded, as well as it's necessary to introduce new solutions and innovations that will help mitigate the negative consequences of climate change.
Babayev also noted importance of Azerbaijan's tax policy encouraging business enterprises to adopt green initiatives.
"The environmental factor in tax reforms has now become a powerful economic tool contributing to a sustainable transition around the world. Our tax policies must encourage business enterprises to adopt green initiatives, invest in sustainable energy projects, and support investors who apply clean technologies, create green growth, and utilize renewable energy sources," he added.
One of Azerbaijan's industrial zones can be organized on a green energy basis, Azerbaijan's Minister of Economy Mikayil Jabbarov said.
According to him, fiscal and tax regulation is a tool to ensure the transition to a 'green' economy.
The State Oil Company of Azerbaijan (SOCAR) wants to foster global climate sustainability by 2050, Vice President of SOCAR Afgan Isayev said during the forum themed "Tax system in the new development period: Strategic Goals for a Sustainable Economy" held in Baku.
Isayev also briefed on launch of the decarbonization program based on investigating emission indicators, evaluating the portfolio, and undertaking a thorough analysis of actual emission reduction targets in important geographic areas of the company's activity this year.
"SOCAR set a goal to completely decarbonize operations using a range of resources, and this program was launched this year. SOCAR's decarbonization efforts encompass all segments and production assets in each geographic location where it operates," he added.
Azerbaijan has identified 'green' growth as one of its five national priorities, said Head of Department at Ministry of Economy Huseyn Huseynov during the forum "Tax system in the new development period: Strategic Goals for a Sustainable Economy" held in Baku.
He explained that specific goals concentrating on increasing investment in the environmental sector, particularly in green energy were identified.
"By 2026, the goal is to enhance the share of renewable energy in total investment potential from 17 to 24 percent, with a further target of achieving 30 percent by 2030 – a significant priority in the socio-economic growth strategy," the official said.
bp's Shafag solar power plant project in Azerbaijan will be completed by the end of 2025, Afgan Isayev also said during the forum themed "Tax system in the new development period: Strategic Goals for a Sustainable Economy".
He underlined that SOCAR, the Azerbaijan Investment Company, and bp will work together to build a 240 MW power plant.
"The Sangachal terminal will be supplied with electricity produced at the Shafag plant, and as a result, this will reduce emissions equivalent to 260,000-330,000 tons of carbon dioxide (CO2) per year," the official noted.
bp anticipates signing a final investment decision (FID) with the Azerbaijani government for the local 240 MW Shafag (Sunrise) solar power plant (SPP) project in Jabrayil area in the second half of 2024, bp's Vice President for the Caspian region, Communications and External Affairs Bakhtiyar Aslanbayli said.
bp announced that Anar Mansurov, with 20 years of experience within the company, has been appointed as bp's regional manager for health, safety and environmental sustainable development (HSE) and carbon emissions.
Azerbaijan has seen an increase in electricity production from renewable energy sources (RES) in January 2024, the Azerbaijani Ministry of Energy noted.
Thus, total RES power generation, including hydro generation, totaled 172.3 million kWh in January, a 77.2 million kWh increase over January 2023.
The statistic accounted for seven percent of the country's January 2024 electrical generation.
Out of 172.3 million kWh, 5.8 million kWh came from wind farms, 18.2 million kWh from solar power plants, and 18.9 million kWh from municipal solid waste incineration at a plant in Baku.
Hydroelectric power plants are being built in accordance with the president's directions to transform the liberated regions into green energy zones. One of these regions is the Lachin district, where AzerEnergy is carrying out several projects.
The following HPPs have been repaired and commissioned in the Lachin district as of today: Mishni (8.25 MW), Gulabird (eight MW), Alkhasli (six MW), and Sus (four MW). As of now, AzEnergy's HPPs have generated approximately 77 million kWh of environmentally beneficial green energy.
The production of 77 million kWh of green energy saved 18 million cubic meters of gas and millions of manat, avoiding the release of 32,000 tons of carbon dioxide into the atmosphere.
The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) said that it will hold an innovative conference on "Reconstruction of Water and Wastewater Infrastructure in Karabakh Region" within the Environmental Protection Export Initiative of the Federal Ministry for the Environment, Nature Conservation, Nuclear Safety, and Consumer Protection on February 21, 2023.
The conference's key topics include addressing environmental issues of transboundary rivers such as the Kura, Araz, and Okchuchay, improving water quality, and exploring water treatment for both drinking and agricultural purposes in the west of Azerbaijan.
Besides, AHK Azerbaijan noted that, in collaboration with the Central Baltic Programme, it will host a webinar on "Advancement of 'green' technologies in Azerbaijan" on February 29.
The goal of this online event is to explore partnership
opportunities for enterprises and organizations in the energy,
'green' technology, logistics, transportation, and water supply
sectors with specialist entities in Latvia, Estonia, and Finland
via the LEF Network initiative.
The webinar is designed to provide information on the current
situation and possibilities for Azerbaijan's green technology
industries.
The European Hydrogen Bank has reported the first steps in its operation in February 2024.
"The maiden pan-European auction for green, renewable hydrogen production got 132 bids, marking the first step toward establishing the European Hydrogen Bank," the report said.
The New York Climate Exchange, established in 2023, has shared its expectations for the upcoming 29th session of the UN Framework Convention on Climate Change (COP29), scheduled for November in Baku.
"The New York Climate Exchange supports the opinion of the Executive Secretary of the UN Framework Convention on Climate Change, Simon Stiell, voiced during his visit to Baku, where COP29 will take place, on the urgent need for climate change financing equal to at least $2.4 trillion," the statement said. "The upcoming COP29 in Azerbaijan will focus on climate financing with the aim of setting a clear target for the period after 2025 to support developing countries in mitigating and adapting to the impacts of climate change. This is crucial," the exchange's social media statement pointed out.
