Azerbaijan is one of the most reliable energy suppliers at both the regional and global levels, Deputy Energy Minister Elnur Soltanov said during a panel session held as part of the Fourth Climate Week (CW4) of the United Nations Framework Convention on Climate Change (UNFCCC), organized by the Ministry of Foreign Affairs, APA reports.
Elnur Soltanov noted that approximately 70% of global emissions come from the energy sector.
“Renewable energy is more important. Azerbaijan is a regional leader in this field. The potential of solar and wind energy is being utilized in our country, and these indicators will increase further by 2027. We have currently doubled the share of renewable energy,” he said.
The deputy minister emphasized that, based on the COP29 process, $300 billion is expected to be mobilized by 2035: “COP31 will take this process further, and there is a need to provide more funds. These amounts are minimum figures, and it may be possible to mobilize higher amounts in the coming years"
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