Production of "green hydrogen" will reduce carbon emissions by 12%, Director General of the International Renewable Energy Agency (IRENA) Francesco La Camera said on the first day of the conference as part of the Baku Energy Week.
He added that this will contribute to the process of lowering the temperature by 1.5 degrees by 2030:
"There is a need for serious investment in the renewable energy sector. According to research conducted by IRENA, the sector needs to invest $7 trillion by 2030 per 4 scenarios. All this allows us to implement the provisions of the Paris Agreement. Our estimates show that the increase in investment will result in the creation of about 90 million jobs in the renewable energy sector."