UN climate talks host Azerbaijan plans to increase oil and gas production

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Financial Times 6d ago

UN climate talks host Azerbaijan plans to increase oil and gas production - Financial Times

Quick Summary:

However, Azerbaijan has struck a series of oil and gas agreements since being designated the COP29 host country, according to the analysis.

The president of COP29, Mukhtar Babayev, has led the call for the world to limit the rise in global temperatures to 1.5C, even as Socar is securing deals to produce new oil and gas beyond 2050.

Last year, almost 200 countries agreed to transition away from fossil fuels in global energy systems by mid-century at COP28 in Dubai.