Today.Az » Business » Azerbaijan joins global efforts to set serious goals for renewables
23 February 2024 [16:22] - Today.Az

By Azernews

Ulviyya Shahin

The global shift towards green energy, commonly referred to as renewable energy, represents a profound transformation in our approach to power generation. This transition is propelled by a convergence of environmental, economic, and social imperatives. At its core, the environmental aspect underscores the pressing need to address the escalating threats of climate change and environmental degradation. As traditional energy sources continue to contribute to greenhouse gas emissions, the adoption of renewable energy sources becomes paramount to mitigating the impact of climate change and preserving the planet for future generations.

Economically, the move towards green energy signifies a strategic investment in sustainable and resilient infrastructure. The volatility of fossil fuel prices, coupled with the finite nature of these resources, has necessitated a reevaluation of our energy portfolio. Renewable energy sources offer not only a more stable and cost-effective alternative but also present opportunities for job creation and economic growth. The renewable energy sector has emerged as a driver of innovation and competitiveness, fostering a transition to a more sustainable and economically viable energy landscape.

Socially, the transition to green energy is aligned with a growing awareness and concern for the well-being of communities and the equitable distribution of resources. The decentralisation of energy production through renewable sources empowers local communities, reducing dependence on centralised energy grids. This decentralisation fosters energy democracy, enabling individuals and communities to actively participate in and benefit from the production of clean energy. Moreover, the renewable energy sector has the potential to address energy poverty by providing access to reliable and affordable energy for underserved populations.

The transition to green energy embodies a multifaceted approach to address the interconnected challenges of environmental degradation, economic instability, and social inequities. As nations and communities embrace renewable energy solutions, they not only contribute to a more sustainable and resilient future but also set the stage for a paradigm shift towards a cleaner, more inclusive, and environmentally responsible energy ecosystem.

Azerbaijan, with its strategic geopolitical position and abundant natural resources, plays a pivotal role in this global transition. The country, traditionally recognised for its oil and gas reserves, is increasingly directing its attention towards renewable energy sources. Azerbaijan's commitment to green energy aligns with global efforts to reduce carbon emissions and embrace sustainable practices. The diversification of Azerbaijan's energy portfolio not only contributes to environmental conservation but also enhances energy security and economic sustainability.

Azerbaijan's geographic location, characterised by ample sunlight and wind resources, positions the country as a potential leader in renewable energy adoption. Investments in solar and wind projects, coupled with advancements in technology, demonstrate Azerbaijan's commitment to harnessing clean and sustainable energy sources. Moreover, as a proactive participant in international collaborations and agreements related to climate change, Azerbaijan contributes to the broader global effort to transition towards a greener future.

That is why Azerbaijan has assumed the responsibility of hosting COP29 this year and has established specific obligations and tasks ahead of it.

The President of the Republic of Azerbaijan, Ilham Aliyev, said in his speech that we will hold the COP29 international conference at a high level.

"I have no doubt that we will hold the COP29 international conference at a high level and that it will be yet another great success for our country and people. At the same time, Azerbaijan will assert itself in this field as an oil and gas country, and everyone in the world will see again that our agenda is related to green energy. The creation of green energy and the transportation of green energy to world markets are currently the priorities of our energy policy. This is a reality and the whole world will see it again," the Azerbaijani President stressed.

Providing opinions on the reasons and factors driving the transition to green energy, Dean Shmuel Elmas, an expert in energy and geopolitics at Globes, emphasised the significant role of the world's wealthiest individuals in influencing global renewable energy trends. He highlighted a notable example, citing the Indian Adani Group's establishment of a solar field equivalent in size to Singapore, emphasising the crucial nature of such large-scale projects in achieving global net-zero goals.

According to Elmas, governments need to incentivize renewable energy companies with benefits that are distinct from those granted to fossil fuel giants. By doing so, he envisions the active participation of major global energy companies in the essential transition required for the well-being of future generations. Recognising this as a collaborative initiative, Elmas acknowledged that its realisation may take some time.

Identifying profitability as a significant challenge in the renewable energy market, Elmas drew parallels with the historical struggles faced by early solar companies. He advocated for government-led subsidisation programs to facilitate improvements in various renewable sectors, echoing the positive impact witnessed following a decline in solar panel prices.

Elmas also proposed a novel approach to utilising border areas for renewable energy projects, suggesting the deployment of solar panels along border fences. Additionally, he underscored the importance of international collaboration, encouraging countries to share their unique experiences and knowledge in different renewable energy domains, thereby contributing to a greener global energy mix.

Addressing concerns raised by environmental organisations about energy giants like SOCAR, Elmas challenged the perception of these companies as problematic, asserting their potential to play a vital role in finding solutions. He advocated for collaborative efforts between such industry giants and the renewable energy sector, emphasising the possibility of more favourable outcomes.

Dean Shmuel Elmas concluded by emphasising the urgency of achieving zero emissions globally by 2050. Citing coal, oil, and natural gas as dominant contributors to global emissions from fuel combustion, he warned against continuing on the current trajectory, asserting that the only viable alternative is to establish ambitious and high-quality goals for renewable energies, ultimately saving the planet from the detrimental consequences of climate change.

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