SOCAR takes active role in Baku Climate Action Week
Baku, September 11, AZERTAC
SOCAR actively participated in the third Baku Climate Action Week.
Held with SOCAR Green as a main partner, Baku Climate Action Week brings together representatives of the public and private sectors, international organizations, investors, academia, civil society, and youth to promote concrete climate solutions, build new partnerships, and expand investment opportunities.
SOCAR officials participated in various events held as part of the Week and contributed to discussions on energy transition, renewable energy, decarbonization, and sustainable development.
At the panel session titled “Accelerating Methane Abatement: From Detection to Action,” SOCAR Vice President Afgan Isayev delivered opening remarks, highlighting the importance of reducing methane emissions globally and the role of international cooperation in this area. He also provided information on SOCAR’s decarbonization targets and projects aimed at reducing emissions.
During the session, Mustafa Gurbanli, Head of SOCAR’s Environmental Disclosures and Green Affairs Department, spoke about the company’s approaches to reducing methane emissions, detecting and eliminating emission sources using satellite and drone technologies, ensuring transparent reporting, and participating in international initiatives.
Mustafa Gurbanli also spoke at the roundtable titled “Commitment to Action: Scaling Methane Emissions Reductions in the Caspian Region,” jointly organized by SOCAR, the Oil & Gas Decarbonization Charter (OGDC), and Boston Consulting Group (BCG). He highlighted the importance of reducing emissions from oil and gas operations in the Caspian region, the steps being taken and projects being implemented in this area, existing opportunities for cooperation, as well as the importance of learning from and applying international best practices.
Elmir Musayev, General Director of SOCAR Green, participated in the plenary session titled “Advancing the Green Energy Industry through Innovation, Digital Technologies, and Regional Collaboration,” where he spoke about technology integration and international cooperation. Elmir Musayev discussed SOCAR Green’s experience in implementing large-scale renewable energy projects and emphasized the role of innovation and digitalization in integrating renewable energy generation into the national power system and supporting the decarbonization of industrial operations.
Rza Naghiyev, Investments and Project Development Director at SOCAR Green, spoke at the session titled “Carbon Market Discussion: Unlocking Climate Finance through Carbon Markets.” He addressed the key differences between compliance and voluntary carbon markets, their regulatory frameworks and market mechanisms, as well as existing challenges related to the quality of carbon credits and market confidence.
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