Azerbaijan has set a goal to become a leader in "green energy," Minister of Economy Mikayil Jabbarov said at the ministerial meeting of CAREC program partners on climate, innovation, and trade on the sidelines of COP29 in Baku.
Report quotes the minister as saying Azerbaijan plans to take significant steps to reduce greenhouse gas emissions by 40% by 2050 and develop renewable energy potential.
He unveiled the country's plan to increase the share of renewable energy in its energy production to 30% by 2030 and become a leader in 'green energy' by diversifying our energy system.
Jabbarov recalled that yesterday the presidents of Azerbaijan, Kazakhstan, and Uzbekistan signed the "Strategic Partnership Agreement between the governments of Azerbaijan, Kazakhstan, and Uzbekistan in the field of green energy development and transfer".
He noted that this will not only unite renewable and common energy systems but also ensure the expansion of the Middle Corridor concept, including potential exports of renewable energy produced in Central Asian countries to Azerbaijan.
According to the minister, Azerbaijan is implementing a similar project together with Georgia, Bulgaria, Romania, and Hungary to export 'green energy' to European markets across the Black Sea.
He added that the countries are not only working in this field but also striving to coordinate their actions.
The minister noted that the Baku Declaration on CAREC Partnership for Climate, Innovation, and Trade will create a new platform for cooperation in social, economic, and environmental spheres in the CAREC region.
The minister said the declaration will support trade initiatives, use of artificial intelligence, climate change mitigation and adaptation measures.
These approaches will facilitate the adoption of new 'green principles' and strengthen dialogue on climate and trade, he said.