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Azerbaijan has defended its position as another oil and gas producing nation hosting the world's most important climate summit, with the incoming COP29 president saying the Caucasus nation is vulnerable to climate change.
In his first international interview since his appointment, Mukhtar Babayev told the Financial Times that Azerbaijan was suffering from the effects of global warming with water shortages and land degradation.
The Minister of Environment and Natural Resources said from his office in Baku that “green growth is a priority for Azerbaijan for the coming decades” and that the country is seeking investment.
Last year, the UAE, one of the world's largest oil and gas producers, faced intense criticism ahead of the United Nations Climate Change Conference (COP28) in Dubai, particularly over the decision to choose the head of the Abu Dhabi National Oil Company to chair the UN summit. For climate.
While Azerbaijan is not one of the world's largest fossil fuel producers, the world's first oil field was drilled in the country in 1846 and fossil fuels remain an important source of revenue.
Oil and natural gas bring about 90 percent of Azerbaijan's export revenues and finance about 60 percent of the government budget, according to International Energy Agency figures.
Babayev, who spent more than two decades at the State Oil Company of the Republic of Azerbaijan, said Azerbaijan is an important supplier of gas to its neighbors, including the European Union. The European Union agreed to double Azerbaijani gas imports by 2027 after the Russian war on Ukraine choked off its supplies.
“in [the] In the coming years, we will continue to deliver gas to our customers. But at the same time, the country's main agenda is to increase green energy production and maximize investment[ment] To this region,” he said.
Babayev added that COP29, scheduled to be held in Baku in November, would be a good opportunity to “show how the country has turned the economy into a green direction.”
Azerbaijan has signed several agreements in recent years to develop wind and solar energy projects in the country, including with the UAE's Masdar Renewable Energy Company. Last year, Azerbaijan agreed with Georgia, Hungary and Romania to develop renewable energy projects and export energy using an undersea cable under the Black Sea.
But Azerbaijan's commitments to the United Nations to reduce greenhouse gas emissions, known as nationally determined contributions, are weaker than many countries around the world.
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Its goal of reducing greenhouse gas emissions by 40 percent by 2050, compared to 1990 levels, is conditional on international support. The United Nations has urged countries to strive to achieve “net zero emissions” by 2050.
Babayev said that Azerbaijan is currently studying whether to increase its emissions reduction level.
The country, which borders the Caspian Sea, Russia, Georgia, Armenia, Turkey and Iran, was only confirmed to host COP29 in December, after Armenia agreed as part of the conflict resolution, and with Russia's support as part. Selection of Eastern Europe in the United Nations course.
Adding to climate negotiators' concerns about Baku's human rights record, the appointment in January of a 24-member male organizing committee was met with intense anger, and a group of 12 women were later added.
Babayev said his COP29 team includes three men and three women, and that Baku will host an “inclusive COP.”
“We guarantee that Azerbaijan will provide all conditions for all participants [Baku],” he added.
While Babayev expects to outline his main points of interest for the summit over the summer, he said climate finance would be a priority.
“In Baku, we will have the opportunity to talk about not only the main agenda, not just climate finance, but all other issues related to climate change – water, land degradation, food security, agriculture and others.”
To watch the full interview, join the FT Live Climate Capital Summit on March 14.
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