UN summit host says Azerbaijan vulnerable to climate change

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Azerbaijan has defended its status as another oil and gas producer hosting the world's most important climate summit, with the incoming COP29 president saying the Caucasus country is vulnerable to the effects of climate change.

In his first international interview since taking office, Mukhtar Babayev told the Financial Times that Azerbaijan was suffering from the effects of global warming, water shortages and land degradation.

“Green growth is Azerbaijan's top priority in the coming decades,” the Ecology and Natural Resources Minister said at his office in Baku, where the country is seeking investments.

Last year, the United Arab Emirates, one of the world's largest oil and gas producers, faced fierce criticism ahead of the 28th Conference of the Parties in Dubai, particularly over its decision to choose the chief executive of Abu Dhabi National Oil Co. to chair the United Nations climate summit.

While Azerbaijan is not one of the world's largest producers of fossil fuels, with the world's first oil field being mined in the country in 1846, fossil fuels remain an important source of revenue.

According to the International Energy Agency, oil and gas generate about 90% of Azerbaijan's export revenues and fund about 60% of the government budget.

Babayev, who has worked for the State Oil Company of the Republic of Azerbaijan for more than two decades, said Azerbaijan is an important supplier of natural gas to neighboring countries, including the European Union. The EU agreed to double Azerbaijan's gas imports by 2027 after Russia's war in Ukraine choked Azerbaijani supplies.

“exist [the] We will continue to provide natural gas to our customers in recent years.But at the same time, the country's main agenda is to increase green energy production and maximize investment[ment] to this area,” he said.

Babayev added that COP29, which will be held in Baku in November, will be a good opportunity “to show how the country can shift its economy in a green direction”“.

In recent years, Azerbaijan has signed several agreements to develop wind and solar projects in the country, including one with UAE renewable energy company Masdar. Last year, Azerbaijan reached agreements with Georgia, Hungary and Romania to develop renewable energy projects and export electricity using undersea cables in the Black Sea.

But Azerbaijan’s commitments to the United Nations to reduce greenhouse gas emissions, known as nationally determined contributions, are weaker than many countries around the world.

It aims to reduce greenhouse gas emissions by 40% by 2050 compared to 1990 levels, but this target depends on international support. The United Nations urges countries to strive to achieve “net zero” emissions by 2050.

Babayev said Azerbaijan is currently considering whether to “upgrade” its emissions reductions.

The country, which borders the Caspian Sea, Russia, Georgia, Armenia, Turkey and Iran, was only confirmed as host of COP29 in December after Armenia reached an agreement as part of a resolution to the conflict and was backed by Russia. Eastern Europe's selection in UN rotation.

The appointment of a 24-member all-male organizing committee in January sparked an outcry and later added 12 female members, adding to climate negotiators' concerns about Baku's human rights record.

Babayev said his own COP29 team included three men and three women and that Baku would host an “inclusive COP”.

“We guarantee that Azerbaijan will provide all participants with all conditions [Baku],” he added.

While Babayev is expected to outline the focus of the summer summit, he said climate finance will be one of the priorities.

“In Baku we have the opportunity to discuss the main agenda, not only climate finance, but all other issues related to climate change – water, land degradation, food security, agriculture, etc.”

To view the entire interview, Attend the FT Live Climate Capital Summit March 14.

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