"Azerbaijan’s Eurasia-scale "green energy" activities shape energy initiatives aimed at removing bottlenecks to achieve "net zero" at the upcoming 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) in Baku," Minister of Energy of the Republic of Azerbaijan Parviz Shahbazov said during his speech as the main speaker at the "nvestments and Global Cooperation panel at the “ind Energy Hamburg Conference held in Hamburg, Germany, APA-Economics reports.
According to him, initiatives such as the “Green Energy Zones and Corridors Pledge,” the “Global Energy Storage and Grids Pledge,” and the “Hydrogen Declaration,” which aim to establish interregional “green energy” connections by 2030, increase global energy storage potential sixfold to 1500 GW, add or refurbish more than 80 million kilometers of energy grids to the general network system by 2040, and develop the hydrogen industry, will boost investment flows.
“We believe that while COP28 set the target of tripling renewable energy and doubling energy efficiency, COP29 will serve as the platform to support achieving these goals,” the Minister added.
The event continued with discussions on the COP29 Presidency’s efforts on financing the energy transition and Azerbaijan’s energy policy, which balances traditional and renewable energy sources.
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