COP29 President and Minister of Ecology and Natural Resources of Azerbaijan, Mukhtar Babayev, spoke at the Global Renewables Summit during the high-level week of the 79th session of the UN General Assembly, the US bureau of Report informs.

The minister emphasized that energy is one of the important issues on the COP29 agenda.

According to Babayev, as part of the preparation for COP29, projects related to the decisions made at COP28 in Dubai were developed.

"The UAE Consensus adopted at COP28 was an important achievement and created a solid foundation for us. We must unite our forces for a timely and fair solution to the challenges of energy transition and the creation of a renewable energy system for the future," he stated.

The minister also informed the participants about Azerbaijan's initiatives on the transition to renewable energy within the COP29.

"The main goal of the Global Energy Storage and Grid Commitments initiative proposed by Azerbaijan is to increase the global energy storage potential six times compared to 2022, reaching 1,500 GW by 2030. The parties that have made commitments will increase the inflow of investments in this industry as part of global efforts to modernize energy networks, with the aim of connecting more than 80 million km of networks to the global energy system by 2040," Babayev added.

He noted that as part of Azerbaijan's Green Energy Zones and Corridors Pledge initiative, goals have been set to attract investments, stimulate economic growth, develop infrastructure, and expand regional cooperation. Babayev addressed international energy agencies and global partners, noting that COP29 is a key platform for turning global goals into national action plans.