The Azerbaijan State News Agency

ECONOMY

Professor Vasa László: Azerbaijan is an example of successful transition to alternative energy

Professor Vasa László: Azerbaijan is an example of successful transition to alternative energy

Baku, March 9, AZERTAC

“Without Azerbaijan, there will be no integration in the South Caucasus, while the promising Middle Corridor will not be realized,” expert on economy, senior researcher at the Institute for Foreign Affairs and Trade of Hungary, Professor Vasa László told AZERTAC.

Azerbaijan`s role in the South Caucasus

Professor Vasa László emphasized that due to its strategic position, economic strength, and powerful leadership, Azerbaijan plays a crucial role not only in the Caucasus but also in Central Asia. He noted that traffic flow is carried out from the country both from East to West and from North to South, making official Baku a palpable hub of international significance.

Green energy

"Azerbaijan's comprehensive approach to energy transition is evident in the changing energy landscape caused by economic growth and increasing demand for electricity. The country's focus on sustainable energy is spreading internationally thanks to foreign policy initiatives promoting green energy and reducing greenhouse gas emissions," the expert noted. He underlined that Azerbaijan serves as an example of successful transition to alternative energy sources, despite its historical association with oil production. Baku is a leader in the region in applying innovative approaches aimed at transitioning to green energy and addressing the consequences of climate change.

COP-29

Touching upon Azerbaijan's initiatives to address climate change globally, the Hungarian stressed the importance of the upcoming COP29: ""The decision to host the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change in Baku reflects the government's commitment to addressing climate change and transitioning to a green economy. Holding this conference in Azerbaijan provides an opportunity to showcase the country's achievements in energy transition and technological solutions on a global stage."

Vasa László described COP29 as an excellent opportunity to secure clear commitments from countries to ensure the transition to green energy.

"Securing the right to host COP29 is a diplomatic success for Azerbaijan. This decision is important for implementing climate change measures and setting trends in the country. Connecting with global researchers in this domain is a unique opportunity for Azerbaijani experts, researchers and politicians to collaborate on environmental protection and the implementation of circular economy principles. The conference will facilitate discussions on vital issues for Azerbaijan, including mitigating the environmental impacts of long-term large-scale oil and gas production and protecting the Caspian Sea as a unique ecosystem," said the senior researcher.

According to Vasa László, Azerbaijan faces serious environmental challenges in the region, the resolution of which relies not solely on official Baku. Although the country has been endeavoring to restore its environment, which has been adversely affected by three decades of war, it requires international support to address transboundary environmental challenges.

A balanced approach to the energy transition

"Azerbaijan, holding a strategic position in energy supply both regionally and within Europe, advocates for a balanced approach to the energy transition, encompassing both traditional and renewable energy sources. This policy ensures a consistent energy supply, meets demand, and facilitates the implementation of green plans. A number of measures related to green energy and greening of industry have been implemented across the country, with renewable energy production capacities created allowing the export of green energy to Europe," the expert noted.

He also underscored that Azerbaijan currently faces some environmental challenges, and their solution requires a comprehensive and coordinated approach from all stakeholders: "Government bodies and relevant organizations must cooperate to formulate strategic policies and allocate sufficient investments. Simultaneously, public efforts to raise awareness, encourage active participation and mobilize collective action to implement the green agenda should be stimulated. Currently, Azerbaijan is using its oil and gas revenues to invest in renewable energy, which in my view is a clear commitment to decarbonization and circular energy. But it is not feasible to realize it in a very short time: this process must be managed step by step, taking into account the country's sustainable development and energy security."

Share news on social media

Follow us on social network

International forum themed “COP29 and Green Vision for Azerbaijan” was held at ADA University
President Ilham Aliyev attended the forum

State reception was hosted in honor of President of Kyrgyzstan Sadyr Zhaparov

® Bakcell is inviting the entire country to the concert at Boulevard

® Birbank Business’s special “Welcome” campaign for new customers

President Ilham Aliyev and President Sadyr Zhaparov attended unveiling ceremony of monument to Chingiz Aitmatov in Baku

President Ilham Aliyev and President Sadyr Zhaparov made press statements VIDEO

Kyrgyz President Sadyr Zhaparov pays tribute to Azerbaijani martyrs

Kyrgyz President Sadyr Zhaparov pays respect to Great Leader Heydar Aliyev

Al Pacino, Dan Stevens to play troubled priests in exorcism horror ‘The Ritual’

US Congress members informed about Azerbaijan-Armenia peace process

Serb Member of Presidency of Bosnia and Herzegovina Željka Cvijanović invited to COP29

Azerbaijan-Hungary Energy Working Group convenes fourth meeting

AZERTAC hosts meeting with Uzbek journalists VIDEO

Court investigates business corruption accusation against wife of Spanish PM

`Kyrgyzstan will be third country involved in construction of a school in Karabakh`

Hungarian foreign minister to visit Azerbaijan

Türkiye rejects ‘one-sided’ statements on 1915 events

Azerbaijani rowers aim for 'medal rush' in Hungarian tournaments

President of Kyrgyzstan highlights construction of secondary school in Agdham district

Azerbaijani tennis player grabs bronze at WTT Youth Contender Spa 2024

Azerbaijan and Kyrgyzstan signed documents VIDEO

President of Kyrgyzstan Sadyr Zhaparov: The Joint Declaration affirms the deeper strategic nature of the relationship between Azerbaijan and Kyrgyzstan that has developed in practice

President Ilham Aliyev thanks Kyrgyzstan for its support for restoration of the liberated territories

President: Charter capital of the Azerbaijan-Kyrgyzstan Development Fund quadrupled to $100 million

President Ilham Aliyev: The trade turnover between Azerbaijan and Kyrgyzstan is showing a tendency to increase

The 2nd meeting of the Azerbaijan-Kyrgyzstan Interstate Council was held VIDEO

Growing public debt burden, shrinking fiscal space leave Africa at crossroads: UNECA

President Ilham Aliyev: Azerbaijan is determined to continue active interaction with Kyrgyzstan in all areas

Azerbaijan’s Naval Forces and MES hold Wave-2024 joint tactical exercise

President Ilham Aliyev: Azerbaijan and the countries of Central Asia are bound together by centuries-old ties of cooperation

President of Azerbaijan invited his Kyrgyz counterpart to COP29

President Ilham Aliyev: The visit of the President of Kyrgyzstan to Azerbaijan will contribute to strengthening the friendly and fraternal relations between the two countries

International experts convene for conference in Azerbaijan’s Lachin

Azerbaijani ambassador presents his credentials to President of Gambia

BHOS hosts opening of International Scientific Conferences

® Nar presents new books to a school in Fuzuli

Presidents of Azerbaijan and Kyrgyzstan held meeting in limited format VIDEO

Participants of international forum kick off visit to liberated territories VIDEO

Oil prices go up in global markets

Chairman of Presidency of Bosnia and Herzegovina invited to COP29

Official welcome ceremony was held for President of Kyrgyzstan Sadyr Zhaparov VIDEO

World’s electric car fleet continues to grow strongly, with 2024 sales set to reach 17 million

President of Kyrgyzstan Sadyr Zhaparov arrives in Azerbaijan for state visit

Havertz scores 2 as Arsenal routs Chelsea 5-0 to cement Premier League lead

China to launch Shenzhou-18 crewed spaceship on April 25

Azerbaijani oil price exceeds 89 dollars

President: We cannot sit and wait seeing how France, India and Greece are weaponizing Armenia against us

Juventus requires a late goal to beat Lazio 3-2 on aggregate and reach the Italian Cup final

Azerbaijani President: Education of the young generation is one of our main priorities

President Ilham Aliyev: We used benefits from oil and gas to tackle issues of unemployment and poverty

President: The potential of the countries of the Southern Caucasus is already known, and we already know in which areas we can work together

President Ilham Aliyev: We never forgot about issue of four villages

President: Absolutely realistic to reach agreement between Azerbaijan and Armenia before COP29, at least an agreement on our basic principles

Portuguese expert: Baku-hosted COP29 will serve as an essential platform for addressing global challenges related to climate change

Jeyhun Bayramov sheds light on country's foreign policy priorities while visiting CEVRO Institute of Czech Republic

President Ilham Aliyev: Armenia blocks possibility of building land connection with Nakhchivan Autonomous Republic

President İlham Aliyev: Our cooperation with China is expanding in political and economic areas, as well as in transportation

President of Turkic Culture and Heritage Foundation meets with UN Geneva Director-General

President of Azerbaijan: The world will need fossil fuels for many more years

Azerbaijan, Czech Republic explore opportunities for cooperation within COP29

President Ilham Aliyev: We treat our COP29 chairmanship as an opportunity to contribute really to the practical resolution of the most urgent issues on global arena

International forum themed “COP29 and Green Vision for Azerbaijan” was held at ADA University
President Ilham Aliyev attended the forum VIDEO

International “President Cup 2024” regatta ready to welcome competitors from over 20 countries

President of Azerbaijan: Now, we have a common understanding of how the peace agreement should look like

Azerbaijani FM informs Czech counterpart about Azerbaijan-Armenia normalization process

Press release of service of Deputy Prime Minister of the Republic of Azerbaijan Shahin Mustafayev

Azerbaijani President: COP29 will create opportunities for at least consultations among three Southern Caucasian countries, which lead way to future cooperation

President Ilham Aliyev: We want COP29 to be successful from point of view of tackling issues of climate change VIDEO

Azerbaijan, Bahamas Gymnastics Federation embark on cooperation

President: Azerbaijan's economy is actually a self-sufficient economy and it demonstrates sustainable growth even in the period of crisis

President: Azerbaijan has a very close partnership relationship with all countries that are members of Eurasian Union except Armenia VIDEO

Azerbaijani female chess player gets off to a roaring start at European Women's Chess Championship 2024

Slovenia hosts high-level conference of Nizami Ganjavi International Center

Azerbaijan Army’s tanks units hold competition, Defense Ministry VIDEO

President Ilham Aliyev: COP29 is a sign of big respect and support to Azerbaijan from international community

Azerbaijan produces over 7 billion kWh of electricity in Q1 2024

Another 39 families relocated to Fuzuli city get house keys VIDEO

Tunisia, Algeria, Libya agree to advance cooperation

Copernicus report shows year of weather extremes in Europe

® Azercell Telecom launches social campaign "The Way to Go” in collaboration with Azerbaijan Judo Federation

Heydar Aliyev International Airport: the path to development

Azerbaijan, Albania abolish visa regime

Press release of the service of Deputy Prime Minister of the Republic of Azerbaijan Shahin Mustafayev

Oil prices in global markets

Türkiye hosts inaugural event on ocean action, climate crisis

Azerbaijani oil price declines in global markets

4 missing after vessel hit bridge in China's Guangdong

10 killed after 2 Malaysian military helicopters crash

Inter Milan win Italian Serie A title with 5 games left

Joint meeting was held between Azerbaijani and Russian Presidents with railway veterans and workers on the occasion of the 50th anniversary of the Baikal-Amur Mainline VIDEO

Pakistan-Azerbaijan Economic Integration Model: An Expert Opinion

Azerbaijani FM embarks on official visit to Czech Republic

President Ilham Aliyev concluded his working visit to Russia

Russian peacekeepers leave Karabakh after Yerevan recognizes Baku’s state borders — Peskov

President Ilham Aliyev: The factor of Heydar Aliyev has always played and will continue to play an important role in the interstate relations between Russia and Azerbaijan

President Ilham Aliyev: Vladimir Putin and Heydar Aliyev laid foundation for friendly and neighborly relations between Azerbaijan and Russia

President Ilham Aliyev: We are proud that Azerbaijani specialists took an active part in construction of BAM

President of Russia: BAM shapes global logistics for the entire 21st century

President Vladimir Putin: Heydar Aliyev played a special, immense role in the history of the Baikal-Amur Mainline

Georgia welcomes agreement reached by Azerbaijan-Armenia Border Delimitation Commission