If poor countries can demonstrate their efforts to reduce emissions, adapt to the impacts of the climate crisis, and be accountable for any climate finance they receive, developed countries will have fewer excuses to deny them climate finance, and all countries invited to COP29 will take on the burden.
This was stated by economist Khalid Karimli in his statement to the “Report”.
According to the economist, COP29 will play an important role in the participation of potential buyers and partners in the field of green energy and in the formation of investment projects in the field of green energy in Azerbaijan:
“It is impossible to implement these projects without the mentioned partners. The participation of partners does not mean only a source of financing. The formation of relations with large countries creates conditions for the sustainability of the project, strengthens its international status and forms the market of sellers and buyers, that is, the self-financing of a small country in terms of guaranteeing the security of the project because if a country puts up all the money, it will also bear the risks.
The expert stated that for the project to be profitable it is important that it be developed in a sustainable, long-term, reliable and safe manner:
“The more international actors are invited to important projects like COP29, the more international support they will receive. When relations with those countries strengthen, relations with international institutions also improve. At that point, the project becomes a project of importance Otherwise, the implementation of such important measures is too risky. It is important that everyone “shoulder the burden.”
X. Karimli noted that the implementation of the green agenda, as well as the realization of financial support and technological transfers, will create a basis for the training of specialists, educational institutions, specialties and local departments in this field, which will lead to the creation of new jobs in the country’s economy:
“Azerbaijan has sufficient knowledge and experience in the traditional field of oil and gas. In this context, technology transfer to Azerbaijan seems possible. Once the technology transfer is carried out, the process of repair and maintenance of high-tech equipment in the field of alternative energies in Azerbaijan is not an easy task, because bringing such equipment to Azerbaijan has its negative aspects and it is necessary to think in detail about the positive aspects, including the possibility of jointly producing them with foreign companies. The agreements and memorandums signed by Azerbaijan demonstrate this. “There has been enough work in this field.”
The economist stated that in addition to producing energy, it is also important to sell it:
“There are currently two main channels for the sale of energy in Azerbaijan. The first is the supply to Europe through the cable that passes through the bottom of the Black Sea, and the second is the export of the energy produced through the Zangezur corridor from Nakhchivan to Turkey and from there abroad. We are currently trying to export energy through the bottom of the Black Sea But we must not forget that it makes no sense to increase energy production without sales markets.
X. Karimli emphasized that the process of promoting green energy at COP29 will have a positive effect on creating new areas of profit for business entities of various sizes, as well as optimizing costs:
“In general, the State should improve legislation in this area to create the right to sell green energy to electricity grids for individuals and companies. Citizens and businessmen should be encouraged to participate in this process. For example, if a citizen “If you have installed a solar panel on your house, after accumulating the energy you need, you should be able to sell the remaining volume to the grid. I believe that if legislative initiatives of this type are created, citizens and businessmen can participate in this field.”
As noted in the COP29 agenda, climate finance must be scaled up collectively, alongside green trade and the promotion of green goods and low-carbon technologies, to achieve climate goals. This can create sustainable jobs and give countries in the Global South access to the investments and technologies needed to achieve their long-term climate goals.
