BAKU, Azerbaijan, June 7. The issue of raising funds to reduce emissions has been discussed during a roundtable themed "Maintaining the Momentum of Decarbonization" in Baku held with the support of the State Oil Company of Azerbaijan (SOCAR) and the Atlantic Council, Trend reports via SOCAR's statement.
The event also discussed decarbonization solutions for implementing initiatives under the International Oil and Gas Decarbonization Charter (OGDC), ways to attract financial resources to this sector, strengthening cross-sectoral partnerships, and raising awareness to support the commitments of companies that signed the OGDC.
In addition, the roundtable highlighted the importance of securing funding as a critical component in creating industrial decarbonization solutions.
"To ensure access to financial resources during the implementation of emission reduction projects, to raise awareness in this area, and to prepare joint proposals for potential project implementation, it is important that Azerbaijan's local banking sector participate in this process," the statement highlighted.
The roundtable was attended by international energy companies such as SOCAR, ADNOC, bp, ExxonMobil, and Petronas, as well as representatives from various sectors including Baker Hughes, Honeywell, GE Vernova, Teneo, the Environmental Defense Fund, and the Oil and Gas Climate Initiative.
Additionally, representatives from the OGDC organization, the International Energy Agency, the Atlantic Council's Global Energy Center, McKinsey, Kapital Bank, Pasha Bank, Bank of Baku, Access Bank, and the International Bank of Azerbaijan participated in the event.
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