Azerbaijani Energy Minister Parviz Shahbazov stated at Baku Climate Action Week that a significant overhaul of the global energy system is necessary if the world is to maintain global warming below the 1.5°C target by 2030.
Shahbazov described the scope of change needed to achieve the objectives of the Paris Agreement in his remarks at the event.
“The world needs to build or upgrade 25 million kilometers of power grids, develop new energy corridors connecting generation and consumption centers, increase renewable energy capacity to 11,000 gigawatts by 2030, and expand energy storage to 1,500 gigawatts in order to stay on track with the Paris Agreement,” the minister said.
He pointed out that even while 582 gigawatts of new renewable energy capacity, also known as “green power,” were installed worldwide in the last 12 months, this is insufficient to achieve the necessary rate of change.
Shahbazov underlined, “IRENA estimates that a 16.6% annual growth rate in renewable capacity is required to meet these targets.”
The minister also emphasized that substantial investments in cutting-edge grids, storage systems, and effective transmission infrastructure are necessary for a sustainable energy transition to be successful.
He asserted that developing smarter, more robust systems to reliably store and transport energy is more important for advancing renewable energy than just expanding capacity.
Policymakers, business executives, and climate specialists gather at Baku Climate Action Week to talk about practical measures to meet global energy and climate goals. Azerbaijan will further establish itself as a major participant in the global energy and climate debate by hosting the 2025 UN Climate Change Conference (COP29).
