Greece at COP’s Post

🌐With global temperatures reaching record highs and the increasing frequency of severe weather disasters causing extensive damage and loss of life, the United Nations Climate Change Conference (COP29), which has commenced today in Baku, Azerbaijan, presents a crucial opportunity for leaders from governments, businesses, and civil society to exchange best practices and innovative solutions across vital sectors. Congratulations to Baku and Azerbaijan for hosting this important summit and bringing global attention to these urgent issues. ⛰As an investor in the energy sector through the Nawaf Salameh Family Office, I welcome this Summit and will be closely following its developments. I hope that participants will put forth actionable measures and new technologies that help communities adapt to climate impacts, as well as effective strategies for transitioning to renewable energy sources. The topic of funding for climate initiatives is particularly essential, as securing the necessary investments to reduce greenhouse gas emissions and protect lives and livelihoods from the worsening impacts of climate change must be addressed. 🎬Recently, in interviews with journalists following the acquisition of the Octogon Gas & Logistics Terminal in Constanța, I was asked how the Nawaf Salameh Family Office’s involvement in Romania’s energy sector aligns with the country’s broader energy diversification goals, especially in the context of the EU’s energy security strategy. I explained that our approach is indeed aligned with Romania’s objectives. Octogon, as the main gateway for LPG in Romania and Central Eastern Europe, represents a strategic move, as LPG is considered a transition energy source by the EU. This acquisition is a perfect addition to our renewable energy projects in solar and wind, which the family office is currently developing in Dobrogea. By integrating Octogon with these green energy initiatives, we are building a multifaceted energy infrastructure that is not only more sustainable and secure but also more environmentally responsible. #cop29 #energy #renewableenergy #energysummit

⚡️Can #Azerbaijan Become the EU’s Long-Term Green Energy Partner? With Azerbaijan set to host the #COP29 climate conference, the country is making strategic moves to bolster its international image and attract financing to modernise its energy sector. Since 2022, Azerbaijan has strengthened its energy partnership with the EU, increasing gas exports and outlining ambitions to develop renewable energy and green hydrogen. Yet, the EU’s declining gas demand, coupled with Azerbaijan’s lack of a comprehensive decarbonisation strategy, raises questions about the sustainability of this alliance. Moreover, with its alarming human rights track record, Azerbaijan has been a controversial partner for the EU politically. Can Azerbaijan meet these challenges and transform into a dependable green energy partner for the EU? ➡️ Read the analysis by Yana Zabanova: https://lnkd.in/d-udV3UK #Sustainability #EU #Azerbaijan #RenewableEnergy #GreenHydrogen #COP29 #ClimateAction #EnergyTransition

Baku is buzzing with great discussions about the energy transition, and it is amazing to be in the middle of that at #COP29. Yesterday, I arrived to COP and hit the ground running as part of the Ørsted delegation with Lauren Uppink Calderwood and Ulrik Stridbæk. My highlight so far is a round table that I joined and gave a remark about our 1-pager on how to accelerate the renewables investments through the Nationally Determined Contributions (NDCs) - drafted by my great colleagues Tord Bjorndal and Claire Ballay. In this 1-pager, we’ve identified 3 crucial steps: 1) Sectoral Targets: First step is that we need economy-wide targets for all sectors incl buildings, the power sector, and transport. 2) Technology Targets: We recommend a framework where the targets are accompanied with estimates on expected costs and emission reduction potentials for different technologies. 3) Transparency Around Targets: The NDCs should describe the main regulations and mechanisms that governments plan to put in place to support the achievement of targets. This will ensure transparency around the targets and allow checking how realistic they are! I’m looking forward to the next days at COP and to meet more inspiring people and join more excellent events about topics like steel decarbonisation and the skills needed for the green transition♻️

🇬🇧 Within the framework of COP29 Azerbaijan, another group of foreign media representatives who are visiting our country visited the Port of Baku Another group of foreign journalists who participated in the media tour organized under the name "Green City" visited the Port of Baku. The participants were given detailed information about the importance of the "Green Port" projects, the main principles of the port's decarbonization strategy, the use of renewable energy sources, and innovative measures implemented in the field of carbon footprint reduction. In the end, the guests got acquainted with the infrastructural capabilities, geostrategic location, and prospective projects of the Port of Baku. #Cop29 #Cop29Azerbaijan #PortofBaku

Possible #green #energy deals at COP29 Azerbaijan to be held in #Azerbaijan this November may offer access to #broader #markets. "Azerbaijan’s strategic location as an energy hub provides an opportunity for foreign stakeholders to engage in discussions related to the transition from fossil fuels to renewable energy sources. As a result, Azerbaijan could become a relevant country when the energy transition is discussed and some green energy deals expected during COP29 may offer economic opportunities and access to broader markets." By default, COP sessions are convened annually unless otherwise decided by the participating parties. The inaugural COP convened in March 1995 in Berlin, with its secretariat headquartered in Bonn. As Azerbaijan prepares to host COP29, it assumes a pivotal role in advancing global efforts to address climate change, underscoring the urgency and importance of international cooperation in combating environmental challenges.

Senegal is expected to reaffirm its €2.5 billion Just Energy Transition Partnership at COP29 in Azerbaijan, aiming to reduce #fossilfuel dependence. The initiative, launched in 2023 by former President Macky Sall, faced delays after a leadership change but is set for renewal with support from France, Germany, the EU, the UK, and Canada. The partnership, backed by countries including France, Germany, the EU, the UK, and Canada, is aimed at supporting developing nations in their #energytransition. If finalised, the program would provide €2.5 billion over five years to Senegal. This follows similar agreements made with other countries like #SouthAfrica ($9.3 billion), #Indonesia ($20 billion), and #Vietnam ($15.5 billion), all focusing on reducing #fossilfuel dependence and boosting #renewableenergy. Senegal's #energytransition, alongside multi-billion-dollar #oilandgas projects with BP and Kosmos Energy, will play a pivotal role in shaping the country's future #energy landscape. #EnergyTransition #ClimateAction #COP29 #RenewableEnergy #GreenEnergy

As the world turns its attention to #COP29, hosted in the Middle East this year, the discussions and commitments made during the conference will shape the future of sustainable development, green innovation, and climate investments. For investors looking to be at the forefront of this transformation, #Azerbaijan presents a unique opportunity. With its strategic position at the crossroads of Europe and Asia, Azerbaijan is emerging as a key player in the global green energy and sustainability sector. From renewable energy projects to carbon-neutral technologies and sustainable infrastructure, the country is making substantial strides in aligning its growth with climate action goals. Why #Invest in Azerbaijan? 🇦🇿 Azerbaijan’s Green Transformation: The government is setting ambitious targets to reduce emissions, with a strong focus on renewable energy sources, including wind, solar, and hydropower. 🔋 Growing Green Energy Projects: Azerbaijan is investing heavily in renewable energy, aiming to become a regional leader in clean power generation. 🚀 Attractive Investment Incentives: With competitive tax benefits and a welcoming business environment, Azerbaijan is positioning itself as an investment hub for sustainable industries. 🌱 Environmental Innovation: The country is prioritizing eco-friendly initiatives, offering vast opportunities for partnerships in the green technology sector. As COP29 accelerates the global shift towards sustainability, Azerbaijan is poised to be a prime destination for forward-thinking investors who want to contribute to a cleaner, greener world.

"Re-establishing trust between developed and developing nations is essential if our goals are to be achieved" - says Mukhtar Babayev, who is Azerbaijan’s minister for Ecology and Natural Resources and the president-designate of COP29. 🏭 To reduce #emissions from the energy industry, #Azerbaijan is joining the Global Methane Pledge, curbing emissions of a greenhouse gas more potent to global heating than carbon dioxide. 🌅 Last month, ground-breaking commenced on what will be part of one of the world’s largest installations of solar arrays, built on territory cleared of landmines – the legacy of a generation of conflict and military occupation. The project is in turn part of an ambitious post-conflict net-zero reconstruction of one fifth of the landmass of the country. ☀ Further solar and hydro, and the leveraging of offshore wind capacity of 157GW will transition the economy from an exporter of oil and gas to one of electricity, produced by renewables and exported to our neighbours and the European Union via the planned Caspian-Black Sea green energy corridor. Learn more about the green energy corridor here: https://lnkd.in/gkXV2aCw 🌍 The speed of transformation must also be increased. Over the past two years, Europe, with some help from Azerbaijan, shifted the sources of its natural gas supply and has shown how fast energy transition can occur when there is political will. https://lnkd.in/gtJu3MDB #cop29 #azerbaijan #climatechange #climateaction #energy #renewables #greentransition #globalpolitics

Hosting the most significant climate change event is undoubtedly crucial. Ideally, COP29 and the decisions reached there will spur the adoption of renewable technologies in Azerbaijan. However, it’s also essential to maintain a realistic perspective. The claim that “Azerbaijan will position itself as a leader in green energy” is very ambitious, especially for a country that still relies on fossil fuels for 90% of its revenue.

As we approach the opening of #COP29Azerbaijan, we reaffirm Azerbaijan’s commitment to advancing renewable energy and leading by example in the fight against #climatechange. With a plan to increase renewable power capacity to more than 30% by 2030, the country is diversifying its energy mix to position itself as a leader in green energy. Together with the world, we aim to make #COP29 a defining chapter in humanity’s fight against #climatechange. #COP29 #COP29Azerbaijan