BAKU, Azerbaijan, January 12. The decision made on December 11, 2023, to host the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) in Baku can be justifiably considered a historic event for Azerbaijan. The country will strive to fully capitalize on this opportunity not only to strengthen its position on the global stage but also to intensify diversification of its economy, aiming for sustainable development of the state.
The presidency of COP rotates annually among countries from the five UN regions (Africa, Asia, Latin America, the Caribbean, and Europe). Moreover, within these regions, there is a specific order among the member states.
For 2024, the presidency was designated for the Eastern European Group, and both Armenia and Bulgaria withdrew their candidacies for hosting COP29, in favor of Azerbaijan. Azerbaijan has developed long-term partnership relations with Bulgaria, primarily thanks to their energy cooperation, whilst the decision by Armenia is hoped to be seen as a gesture of goodwill towards achieving lasting peace in the South Caucasus region for the prosperity of its population.
The agenda for the scheduled COP29 meeting in November 2024 includes crucial contemporary issues, such as the impact of climate change on the healthcare sector and the increase of investments in new projects in this context.
Thus, during the two-week event in Baku, complex and substantial discussions are anticipated, which will not be merely formal. The success of these discussions will depend on the political will of the COP29 participating countries and finding mutually acceptable solutions regarding the allocation of funds for the effective implementation of 'green' initiatives that concern the health and longevity of every inhabitant of the Earth.
The agenda of the upcoming meeting entails a tremendous level of responsibility, which falls upon Azerbaijan, the host country of COP29. The geographic location of Azerbaijan, with its mild climatic conditions, is favorable not only for the physical health of its residents but also for the development of 'green projects'.
Although Azerbaijan is globally recognized as a country with a longstanding history of oil production, its leadership in the 21st century demonstrates an intention to actively develop renewable energy sources (RES). This strategy is based on both sound calculation and concern for future generations.
In Azerbaijan, 2024 has been declared the "Year of Solidarity for a Green Peace", however, long before this, the country had already taken concrete steps towards a 'green economy'. The portfolio of agreements signed by Azerbaijan since 2019 for the creation of RES with leading global companies in this field is impressive and will continue to grow. This is in line with the country's technical potential for renewable energy sources, which stands at 135 GW onshore and 157 GW offshore.
The economic potential of RES in Azerbaijan amounts to 27 GW, including wind energy at 3,000 megawatts (MW), solar energy at 23,000 MW, and bioenergy potential at 380 megawatts. The potential of mountain rivers is estimated at 520 MW.
Azerbaijan is also committed to reducing greenhouse gas emissions by 35 percent by 2030 and by 40 percent by 2050 compared to 1990.
Speaking about the COP29 in an interview with Azerbaijani media on January 10, President of the Republic of Azerbaijan Ilham Aliyev noted that "as a result of our very precise and thoughtful diplomatic steps, we got the opportunity to host this prestigious event".
"On the eve of the voting, many countries were pressured into not voting in favor of Azerbaijan. But they failed there too, immediately after we were given this honor, a media campaign was launched against us again," he said.
"The traditional actors are The Washington Post, The New York Times, which, as you remember, President Trump quite accurately described as fake news, Figaro and a few others immediately started a dirty campaign against us. Without any reason whatsoever, they even lashed out our environment minister, whom I appointed to COP29. He must have encountered such a situation for the first time. They were pointing out that he had worked in an oil company for many years. What does it mean? I also worked in an oil company for nine years, so what? This man worked as a vice president for environment in an oil company. After that, he has been working as minister of ecology for six years. All this is being put aside, as if it never happened and only his biography in the oil company is talked about. In any case, these are natural, because whenever an international event is held in Azerbaijan, we face such campaigns, be it the European Games, Eurovision or even the Astronautical Congress," the President of Azerbaijan emphasized.
The head of state reminded that at one time oil and gas producing countries such as the United Arab Emirates and Egypt also faced claims regarding the holding of COP.
"But this issue should be approached from a different perspective. These countries, countries that are rich in oil and gas, are inside this process. They want to contribute to our common cause. Azerbaijan and the United Arab Emirates to an even greater extent not only provides for its own energy security without the green energy, but also for the energy security of many others. But this is a symbol of great responsibility. It is an indication that we want to allocate our resources to this field so that green energy can develop in our countries, as they say, and contribute to the rest of the world," President Ilham Aliyev said.
According to the head of state, COP29 "will be a great experience for us. Because this is the world's number one international event, an international conference".
"We are certainly proud that Azerbaijan is leading this process," President Ilham Aliyev pointed out.
The head of state, in a conversation with local television channels, revealed details of the green energy development plan.
"We attach great importance to this issue and believe that we will achieve what we want here as well. The goal is that we do not lag behind the processes going on in the world today, especially in the world’s energy sector. Because we all know that many leading ex-oil companies are even changing their names to energy companies. The demand for green energy will grow. Oil and gas companies will be faced with great difficulties if they do not have green energy projects in their investment portfolio. In fact, various restrictive measures are not an exception there either. Therefore, we should be up to date with this general trend, especially considering that we have unparalleled potential," President Ilham Aliyev said.
The head of state added that the International Finance Corporation, which is a branch of the World Bank, has confirmed our potential in the Caspian at 157,000 MW.
"Therefore, this direction is now a priority in the field of energy. Already in October of last year, the first large Solar Power Station was put into operation, and according to the schedule, we will increase the volume of renewable energy to the level of approximately 3,000-4,000 megawatts in the next three to four years. For comparison, I can say that the total capacity of our power plants is currently about 7,000-8,000 megawatts. A new 1,200 megawatt plant is being built and will be put into operation soon," the President of Azerbaijan said.
"Currently, approximately 5 billion cubic meters of natural gas is used for the production of electricity in our power plants. Now, renewable energy will allow us, among other things, the opportunity to spend not those 5 billion cubic meters of gas, but perhaps 1-2 billion cubic meters of gas for the production of electricity and export the rest of the gas," the head of state explained.
"Contracts and memoranda of understanding we have signed envisage the production of 10,000 megawatts. The contracts and memorandums we have signed are with the world's leading green energy companies. Therefore, it can be assumed that all of them will be implemented and this will meet all our domestic demand. Of course, this will also have a positive contribution to climate change. At the same time, it will enable us to export natural gas in larger volumes. Even if half of 10,000 megawatts is achieved, it will still be enough for us. But I think that our work will not be limited to these 10,000 megawatts, because the potential is too great. Both onshore and offshore sites have been approved, and the next major solar and wind farms are scheduled for commissioning next year. So, this is the main issue, and I think that its potential will have a great impact on the creation of jobs, the introduction of new technologies to Azerbaijan and the development of our regions. Because all our remaining potential stations outside the Caspian Sea are located in the regions, including the Karabakh region," President Ilham Aliyev said.
Thus, Azerbaijan has a clear, long-term, and articulated strategy for the development of its fuel and energy complex, as stated by the head of state. In this strategy, each sector, whether it be oil and gas extraction and export or the development of RES, has its designated place, taking into account the requirements of the global market and the UN climate agenda.
It's evident that Azerbaijan, with numerous oil, gas, and energy agreements, possesses a clear vision of its development, at least until 2050.
This situation contributes to the establishment of trusting and long-term international relations with Azerbaijan, understanding its stance on crucial global and regional issues, and enhances its significance and authority as a stable state respecting universal values.