Preparations Underway for COP29 in Azerbaijan

Azerbaijan is preparing to host the 29th Conference of the Parties (COP29) under the United Nations Framework Convention on Climate Change, a pivotal event in the global fight against climate change. Scheduled for November 2024, the conference presents a major opportunity for the country to strengthen its role within the international community as a committed player in the transition to a more sustainable, less fossil-fuel-dependent economy.

The Broader Context of COP29

COP29 is taking place at a critical juncture for global climate action, marked by increasingly complex challenges related to greenhouse gas emissions and climate change. World leaders will gather at the conference to discuss progress on the commitments made under the Paris Agreement and to redefine the necessary steps to keep global warming within 1.5°C of pre-industrial levels. In this context, Azerbaijan will have the opportunity to showcase its ambitious plans for developing renewable energy and reducing greenhouse gas emissions.

The event will span two weeks and feature themed days dedicated to key issues related to climate change, energy, and sustainable development. Governments will focus on various climate-related sectors, including finance, peace, innovation, health, agriculture, and urbanization, concluding the event with final negotiations on November 22nd.

Azerbaijan's Commitment to a Sustainable Future

In recent years, Azerbaijan has reinforced its commitment to energy sustainability, acknowledging the necessity of reducing its dependence on fossil fuels. One of the country’s primary objectives is to achieve a 40% reduction in greenhouse gas emissions by 2050, which poses a significant challenge for a nation that has historically relied on its oil and gas industry.

One of the key components of Baku's energy strategy is the expansion of renewable energy. The Azerbaijani government aims to increase the energy capacity from renewable sources to 30% by 2030. This move is part of a broader plan to diversify the existing energy system and position the country among the leading nations in green energy production. The primary areas of development include solar, wind, and hydroelectric power.

Azerbaijan's national agenda for Socio-Economic Development 2030 calls for a careful balance between ecological sustainability and economic growth, focusing on the revitalization and efficient use of current resources. An increase in the adoption of alternative and renewable energy sources is anticipated, especially regarding the rise of eco-friendly vehicles to improve environmental conditions and air quality.

Relations with the European Union: A Strategic Energy Partnership

The relationship between the European Union (EU) and Azerbaijan is grounded in the Partnership and Cooperation Agreement, in effect since 1999, while negotiations are underway for a new bilateral agreement. Azerbaijan is also involved in the Eastern Partnership initiative and is a member of the Black Sea Economic Cooperation Organization (BSEC). In 2022, a new Memorandum of Understanding (MoU) on a Strategic Partnership in the energy sector was signed between Azerbaijan and the EU, thereby further strengthening energy cooperation.

This MoU supports the doubling of the Southern Gas Corridor's capacity by 2027, reflecting the long-term nature of the energy partnership between the EU and Azerbaijan, albeit at the expense of environmental protection. However, the first investment project ever funded by E5P financing has been signed to modernize approximately 80% of the street lighting infrastructure in the city of Ganja, with the aim of achieving significant energy savings.

In conclusion, as the COP29 approaches, Azerbaijan stands at a crucial crossroads to demonstrate its dedication to these objectives and reinforce its status as a significant player in the global energy arena. With international attention focused on Baku for meaningful advancements, the country is ready to take advantage of this opportunity to strengthen its green energy initiatives and foster international collaboration that can drive a global energy transition.

Translated by Iuliana Cindrea

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