Energy Minister Parviz Shahbazov noted at the G20 Ministerial Meeting on energy transition in Brazil that Azerbaijan and Brazil cooperate closely for the next period of Contributions determined at the National Level, and the important role of the G20 events, as well as the G20 Leaders Summit, in increasing ambitions and implementing the results of COP29.

He spoke about the priorities of the COP29 Presidency, such as agreeing on a new collective quantitative goal to meet the growing financial needs of developing countries on climate change and strengthening climate-related activities through effective carbon markets. It was noted that the Green Energy Zones and Corridors, Global Energy Storage and Grids, Hydrogen Declaration initiatives will accelerate the global energy transition: “The energy transition is a process and a commitment that requires individual and collective efforts. Azerbaijan is fully committed to inclusion and ready to work with all stakeholders to ensure the successful energy outcomes of COP29” the Minister added.