AHK Azerbaijan Hosts Event to Prepare for COP29, Focuses on Green Energy and Sustainable Development
The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) launched a series of events aimed at building momentum ahead of the 29th UN Climate Change Conference (COP29), scheduled to be held in Azerbaijan. The event, themed “Innovate, Collaborate, Transform – Building a Sustainable Tomorrow,” gathered more than 70 representatives from member companies and partners of AHK Azerbaijan to discuss the country’s advancements in green energy and its broader sustainability goals.
Prominent figures, including Kamal Abbasov, Deputy Minister of Energy of Azerbaijan, and Sevinj Fataliyeva, a member of Azerbaijan’s parliament and the COP29 Organizing Committee, provided insights into Azerbaijan’s growing role in the global green energy movement. Abbasov highlighted the country’s commitment to increasing its renewable energy sources to 33% of total capacity and 25% of production by 2027, emphasizing ongoing collaborations with major international players such as Masdar, ACWA Power, and bp. These projects are set to enhance domestic energy consumption and contribute to the decarbonization of Azerbaijan’s economy.
Fataliyeva outlined Azerbaijan’s initiatives for promoting a green economy, including the newly introduced Baku Initiative for Climate Finance Investment and Trade (BICFIT). This initiative seeks to create a climate action financing fund, with contributions from fossil fuel-producing nations and private companies, further cementing Azerbaijan’s commitment to sustainable development.
The event featured a panel discussion on the impacts of environmental, social, and governance (ESG) strategies across key industries such as energy, transportation, and construction, moderated by Ilkin Hajiyev, Executive Director of Sustainera Solutions. Representatives from SOCAR Green LLC, Azerbaijan Cement Producers Association, and Baku International Sea Trade Port shared their companies’ sustainability efforts and discussed the challenges and opportunities in advancing ESG goals.
Participants also heard from German officials, including Heiko Schwarz, Deputy Head of Mission at the German Embassy in Azerbaijan, who emphasized the opportunities for German companies to engage in Azerbaijan’s green transition. COP29, he noted, could be a catalyst for accelerating sustainable growth in the region, while ensuring Azerbaijan’s emergence as a leader in renewable energy.
The event concluded with a lively discussion session and a business lunch, reflecting the growing importance of sustainability in Azerbaijan’s economic and political agenda ahead of COP29, the AHK reports.
Press Release AHK Impuls event on COP29 17.10.2024
