Azerbaijan ready to work with all stakeholders on financing energy transition, Deputy Minister says

Deputy Minister of Economy of Azerbaijan Sahib Mammadov

© APA | Deputy Minister of Economy of Azerbaijan Sahib Mammadov

# 17 May 2024 11:43 (UTC +04:00)

Azerbaijan is ready to work with all interested parties in order to provide financing mechanisms in the energy transition, which is the main topic of COP29, said the Deputy Minister of Economy of Azerbaijan Sahib Mammadov at "Raising Ambition, Delivering Action: COP29 Sustainable Business Forum", APA-Economics reports.

He said that although Azerbaijan is oil and gas country, its agenda is related to green energy: “Garabagh, East Zangazur economic districts have been declared a "green" energy zone. By 2030, it is aimed to increase the share of alternative and renewable energy sources in total energy production to 30%.”

S. Mammadov noted that a number of initiatives have been launched to ensure the success of COP29 and to achieve shared goals on environmental sustainability and climate action and works are underway to implement these initiatives.

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