BAKU, Azerbaijan, September 18. The State Oil Company of Azerbaijan (SOCAR) is actively investigating further methods to reduce emissions as part of its commitment to sustainable practices, SOCAR Deputy Vice President for Energy Transition, Environment and Decarbonization, Teymur Guliyev said in a statement at the 12th International Caspian Energy Forum held in Baku, Trend reports.
According to Guliyev, SOCAR began the transition to green energy two years ago at the initiative of its leadership.
"While SOCAR has long been recognized as an oil and gas company, there is now a global trend toward energy transition, and many leading firms have shifted their focus to sustainable energy. In light of these developments, SOCAR commenced these efforts ahead of COP28," he stated.
Guliyev acknowledged the challenges faced in this process, particularly the shortage of specialists in green energy and decarbonization within the country.
At COP28, SOCAR publicly unveiled its decarbonization goals for the first time.
"Our primary objective is to achieve net-zero emissions by 2050. The next phase involves setting specific targets for the company to implement green energy projects. We have established the 'SOCAR Green' company to facilitate this," he added.