BAKU, Azerbaijan, October 28.
We don’t have much time left to achieve the target of a 40%
reduction in emissions by 2035, therefore, we must redouble our
efforts, Country Director for Azerbaijan at the Central and West
Asia Regional Department of the Asian Development Bank (ADB),
Sunniya Durrani-Jamal, said during the 9th Sustainable Development
Goals (SDG) Dialogue held in Baku on Wednesday, Trend’s correspondent
reports from the event.


According to her, reducing methane emissions is of great
importance for Azerbaijan to achieve its climate goals. In this
regard, it’s essential to properly identify investments and
prioritize the most effective measures.


Durrani-Jamal noted that Azerbaijan aims to reduce greenhouse
gas emissions by 40% by 2035, compared to 1990 levels. To reach
this goal, the country requires financial resources, modern
technologies, and broad partnerships.


She added that SOCAR and its subsidiaries are working towards
identifying and prioritizing investments to reduce methane
emissions in the West Absheron field.


The ADB representative emphasized that the bank supports
Azerbaijan's transition to a green economy through investments from
both the public and private sectors, as well as through technical
assistance.


According to her, the ADB’s partnership strategy with Azerbaijan
for 2025–2029 focuses on economic diversification, the promotion of
"green development," and the expansion of low-carbon transport
connectivity.


"We support the diversification of Azerbaijan’s green economy
and the development of low-carbon connectivity. This includes the
development of a modern, energy-efficient, and safe railway
network," Durrani-Jamal explained.


She added that the expansion and digitalization of the Baku
Metro could contribute to improving urban mobility, increasing the
efficiency of the transport system, and developing low-carbon
transport solutions.


The ADB representative also touched upon the importance of
regional green energy interconnections. According to her, the
development of green energy corridors between Central Asia and the
Caspian region facilitates the cross-border transmission of
electricity and the integration of renewable energy sources into
regional energy systems.


She pointed out that increasing investments in water
infrastructure is also of great importance. Such investments not
only strengthen the reliability of systems but also enhance their
resilience against extreme weather conditions.







Durrani-Jamal also highlighted the ADB’s support for the
development of solar energy projects in Azerbaijan. According to
her, the bank’s private sector operations played a key role in
supporting the Garadagh Solar Power Plant, which became operational
in 2022, as well as the solar energy projects in Bilasuvar and
Banka.


"The development of renewable energy projects is a vital part of
Azerbaijan’s energy transition. At the same time, it is essential
that existing energy production and industrial processes also
become more efficient and environmentally sustainable to reduce
emissions," she said.


The ADB’s country director also highlighted that the bank has
provided technical support to Azerbaijan for the fulfillment of its
climate commitments. She noted that this support encompassed the
implementation of obligations under the Paris Agreement’s Enhanced
Transparency Framework, the preparation of the first Biennial
Transparency Report, and the formulation of Nationally Determined
Contributions (NDCs).


Speaking about the development of "green finance," Durrani-Jamal
remarked that the ADB has assisted the Central Bank of Azerbaijan
in preparing and developing an appropriate framework. The
application of this approach within commercial banks creates
additional opportunities for financing "green projects."


She also said that the Ministry of Finance is working on a
framework of "green bonds" that will support the development of
capital markets.


According to Durrani-Jamal, the Ministry of Economy plays an
important role in the implementation of solar energy projects
through public-private partnership (PPP) mechanisms.


"Partnerships are critical to success. This includes
collaboration between the public and private sectors, governments
and consumers, as well as current and future generations," the ADB
representative stressed.


She added that in order to achieve the goal of reducing
emissions set by Azerbaijan for 2035, it’s important to increase
investments, introduce new technologies and coordinate the
activities of all interested parties.