On November 5, 2024, SOCAR organized an event titled "SOCAR's Activity in the Field of Decarbonization: Challenges and Achievements" in the "Green Zone" within the framework of COP29.
Representatives from the Ministry of Economy of the Republic of Azerbaijan, SOCAR Group, Boston Consulting Group, Japan Bank for International Cooperation (JBIC), OGDC, IOGP, and other interested parties participated in the event.
Mikayil Jabbarov, the Minister of Economy of the Republic of Azerbaijan and Chairman of SOCAR's Supervisory Board, delivered the opening speech, highlighting the significance of hosting the event within the framework of COP29 and emphasizing the importance of strengthening international cooperation in the fight against climate change.
The Minister of Economy noted that decarbonization is a priority in Azerbaijan's energy policy, with large-scale measures being implemented in this direction. He also highlighted SOCAR's role as an active participant in addressing climate change, praising its efforts to promote green initiatives and voluntarily reduce greenhouse gases generated in the production process.
SOCAR President Rovshan Najaf delivered a speech underscoring the urgency of boosting global decarbonization efforts, expanding "green energy" opportunities, and sharing best practices in this area.
Rovshan Najaf highlighted SOCAR's successful collaborations with international organizations and leading companies to drive energy transformation, outlining the progress made in this direction.
The General Director of the Japan Bank for International Cooperation (JBIC) gave a presentation detailing the green projects and low-carbon technologies the bank supports globally. He also highlighted the recent signing of a Memorandum of Understanding with SOCAR to enhance cooperation in decarbonization efforts. The memorandum aims to foster collaboration between SOCAR and JBIC to expedite the implementation of projects that contribute to reducing carbon emissions.
At the event, SOCAR's Vice President, Afgan Isayev, delivered an extensive presentation outlining the company's decarbonization goals and ongoing projects aimed at achieving them. He discussed the use of the artificial intelligence-based Methane AI tool for emissions measurement, satellite monitoring efforts in collaboration with "OGCI," and drone-based measurements conducted with TotalEnergies. Afgan Isayev also detailed the joint AGMR project with bp, SOCAR's participation in the "OGMP2.0" initiative to ensure transparent emissions reporting, and the company's projects focusing on alternative and renewable energy sources.
Following this, Anton Kosach, the Executive Director of Boston Consulting Group, delivered a presentation where he discussed the company's initiatives in combating climate change. He highlighted the projects undertaken as part of the ongoing collaboration with SOCAR.
During the event, parties exchanged views on the discussed topics and addressed questions from the audience. It was highlighted that these strategic initiatives will play a crucial role in bolstering the position of our country in sustainable development.