We can effectively implement multilateralism, the President of COP28 Sultan Ahmed Al Jaber said at the opening ceremony of the 29th International Caspian Oil & Gas Exhibition - Caspian Oil & Gas and the 12th Caspian International Power and Green Energy Exhibition - Caspian Power as part of the Baku Energy Week, APA reports.
Sultan Ahmed Al Jaber noted that today the UAE and Azerbaijan will hold the groundbreaking ceremony for 3 new renewable projects - 445 MW Bilasuvar SPP, 315 MW Neftchala SPP, and 240 MW Absheron-Garadagh WPP: "We believe that COP29 will be held successfully. The private sector should not be left out of the green energy field. I particularly want to mention SOCAR's initiatives in this direction. In the field of clean energy, we can achieve significant results in the short term, as we have the technologies at our disposal. I urge everyone to be positive and pragmatic. The transition to clean energy will occur at different paces in various places. We need all types of energy sources to meet the increasing energy demand."
Sultan Ahmed Al Jaber noted that the rapid development of artificial intelligence is important in terms of accelerating the transition to clean energy:
"Expanding cooperation between artificial intelligence and energy is important for great success. International financial institutions and the private sector also bear a great responsibility. The private sector should turn the billions invested in these fields into trillions."
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