- Azerbaijan is working to increase its emissions reduction target.
- Babayev said Azerbaijan hope to expand green energy sources to a 30 per cent share of the mix by 2030.
Azerbaijan is working to increase its emissions reduction target in time for the hosting of this year’s UN climate change talks.
Azerbaijan’s economy relies on oil and gas, and its existing target – to cut greenhouse gas emissions by 35 per cent by 2030 and 40 per cent by 2050 versus 1990 levels – is far short of the net zero level scientists say the world must reach by 2050 to avoid the worst impacts of climate change.
Minister of Ecology and Natural Resources Mukhtar Babayev said that his country had started preparations to consider updating its national climate change commitment (NDC).
“It is not only a chance for Azerbaijan, but all other countries to prepare and announce the upgraded NDCs in Baku in November this year,” Babayev said.
Babayev said Azerbaijan hope to expand green energy sources to a 30 per cent share of the mix by 2030. The country is rich in untapped wind and solar resources, but today, its energy is nearly entirely produced from fossil fuels.
He said he had begun talks with financial institutions, banks, campaigners and the private sector to lay the groundwork for a consensus at the summit on raising more finance to help developing nations with the energy transition.
COP29 is the deadline for countries to agree on a new global climate finance goal to help poorer nations cope with worsening climate change.