As the calculations of the experts from the British analytical center Carbon Tracker show, by 2040, the energy transition, which implies the rapid development of ‘green’ energy, will deprive the oil-producing states of $13 trillion.
In this regard, the fears of countries where revenues from oil and gas exports dominate the state budget regarding the negative impact of ‘green’ policies on economic stability are understandable. However, experts urge not to dramatize the situation.
On the other hand, for many countries, renewable energy projects require rather large investments, but now, this is problematic in the context of the global crisis. "Now 85 percent of the world energy balance is covered by hydrocarbons. In developed Europe this figure is 75 percent. At the same time, almost a billion people globally have no access to electricity at all, and 2.5 billion people cook food on an open fire. In this situation, we are being told in all seriousness that in almost 20 years, the humanity will switch to energy, which is still very expensive," said Konstantin Simonov, head of the Russian National Energy Security Fund.
Moreover, the fact is that hydrocarbon resources are being depleted, and every year it is more challenging to discover new deposits. The governments of many countries, including Azerbaijan, accept it and are gradually preparing for the transition to the post-oil era.
At the political level, Azerbaijan supports all crucial initiatives globally, expresses its readiness for bilateral cooperation, and actively attracts investors. So, quite recently, UK Minister of State for European Neighborhood and the Americas Wendy Morton was in Baku, and ‘green energy,’ solving climate change problems was one of the main issues of discussion. Almost all international financial institutions have already expressed their readiness to extend financial support for the implementation of renewable energy projects in Azerbaijan.
https://report.az/en/analytics/green-light-key-issue-on-agenda/