EU Ambassador: We must accelerate world's progress in transition to clean energy

Peter Michalko, Ambassador of the European Union to the Republic of Azerbaijan

© APA | Peter Michalko, Ambassador of the European Union to the Republic of Azerbaijan

# 11 October 2024 14:36 (UTC +04:00)

"In March 2023, we set out on our journey with the vision of reaching the climate goal set in the Paris Agreement," said Peter Michalko, Ambassador of the European Union to the Republic of Azerbaijan at the panel meeting held in Baku within the framework of the Preliminary Conference of the Parties on Climate Change (Pre-COP29), APA reports.

He said that this vision is included in the particular global goal of doubling energy efficiency by 2030: "At COP28, the world united behind these ambitious goals. To keep the spirit of COP28 alive and achieve consensus in the UAE, we must accelerate the world's progress in the clean energy transition. We must create favorable conditions for the development of clean energy technologies. This means speeding up permitting procedures for renewable energy projects and creating conditions for greater adoption of renewable energy in our networks. The transition to clean energy will require large investments, especially in regions where affordable capital is scarce. Public finance will play an important role, but we must also mobilize private capital."

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