Azerbaijan is one of key players in global green transition

Today, Azerbaijan stands as one of the primary participants in the world's most pressing priority of the green transition, Azerbaijani Economy Minister Mikayil Jabbarov said during an international conference on carbon evaluation organized by the State Tax Service in Baku, Report informs.

"Our country's alignment of climate change goals with global challenges has already created a certain experience for us," stated Jabbarov. "The 'green projects' we are implementing with major energy companies are designed to transform our country into a 'clean energy' nation and encourage investments that support ecological balance."

According to the minister, Azerbaijan has taken on specific commitments in this regard. The "2022-2026 Socio-Economic Development Strategy" sets targets for the next medium-term period, such as increasing the share of renewable energy sources in electricity generation capacity and expanding the scope of the waste recycling process. Another notable example is the voluntary commitment made by the State Oil Company (SOCAR) to reduce methane emissions to zero within the framework of COP28.

“When discussing our agenda, we must also note that the transition to alternative energy sources is one of our priorities," Jabbarov emphasized. “Azerbaijan is among the countries with high potential for renewable energy sources. We have attracted foreign investments in this sector and are constructing solar and wind power plants.”

Jabbarov also pointed out that opportunities for cooperation in areas such as low-carbon technologies, energy production from waste, green hydrogen, biofuels, and methane emission reduction are being actively explored.

The minister highlighted that Azerbaijan is working alongside investors to produce renewable energy. By 2030, more than 8 GW of green energy projects will be implemented on land and at sea through foreign investment, with the aim of domestic consumption, decarbonization of the economy, and export.