Azernews.Az

Nazrin Abdul

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ADA University is hosting the 5th Sustainable Development Goals Dialogue titled "Future Echoes: Bridging paths for Climate Action and Global Goals," Azernews reports.

The event was organized by the Ministry of Economy and the UN representative office in Azerbaijan.

Elnur Soltanov, Deputy Minister of Energy and CEO of COP29 announced that Azerbaijan aims to reduce emissions by 40% by 2035, compared to previous commitments for 2050. He stated, "We can note that our emissions will decrease by 40% by 2035," with a target of a 35% reduction by 2030 relative to 1990 levels.

Soltanov explained that the base year for emissions reporting has shifted from 1990 to 2022, providing a clearer understanding of current emissions, which were 61 million tons of carbon dioxide in 2022—accounting for 1% of global emissions. He noted that while Azerbaijan's per capita emissions are the highest in the world, they remain lower than the European average.

He highlighted the division of the energy sector into four additional sub-sectors, covering seven sectors overall. The electricity generation sector represents the largest share of investments at 24%, followed by residential buildings, the oil and gas sector at 16%, industry at 14%, and agriculture at 7%.