BAKU, Azerbaijan, June 5. The energy transition requires financing from more than just public financial institutions, International Energy Charter Acting Secretary-General Atsuko Hirose said during the "Unlocking Sustainable Energy: Green Energy Potential in the Caspian Region" panel at the 29th Baku Energy Forum, Trend reports.
Hirose believes that private investment is essential to facilitate the energy transition crucial for achieving the climate objectives of net zero by 2050 or 2060.
“The funds mentioned earlier are insufficient to meet the substantial investment requirements for the equipment and assets necessary to finance clean energy. Therefore, attracting private investment necessitates some level of certainty. Investors require reliable returns, but how can such returns be guaranteed and ensure the protection of investments? The Energy Charter Treaty currently provides such protection. Understanding its value and potential risks is pertinent for the business case,” she explained.
To note, the 29th Baku Energy Forum, a cornerstone event in the energy sector of the Caspian region, is scheduled for June 5th and 6th at the Baku Convention Center. This modern venue, aligned with Baku's environmental vision, reflects the ethos of Baku Energy Week.
Over 600 delegates are participating in the forum, representing a diverse range of countries including Australia, Austria, Belarus, Belgium, Bulgaria, China, the Czech Republic, Finland, France, Georgia, Hungary, India, Israel, Italy, Japan, Kazakhstan, Latvia, Monaco, the Netherlands, Norway, UAE, Qatar, Romania, Russia, Saudi Arabia, Slovenia, Sweden, Switzerland, Ukraine, the UK, the US, and Uzbekistan. This year's forum boasts a record number of speakers, totaling 81.
The Forum's agenda will address energy issues of significance for Azerbaijan and the broader Caspian region, focusing primarily on considerations and financing related to energy security, energy transition, and green energy projects.
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