Energy Transition and Sustainability Working Group

The AHK Azerbaijan organised the Energy Transition Working Group meeting on October 24, 2024, focusing on "Financing the Energy Transition." This meeting was part of the series themed "Innovate, Collaborate, Transform - Expectations for COP29," which aimes to prepare for the upcoming COP29 in Azerbaijan. Participants engaged in discussions about innovative financing solutions critical for supporting the transition to sustainable energy systems.

Opening the meeting, Mr Rashad Huseynli, Vice Chairperson of the Energy Transition Working Group, welcomed the participants and introduced Mr Vitaly Yakovlev, Head of the Infrastructure Sector, Managing Partner of KPMG Azerbaijan, and Deal Advisory Partner of KPMG Caucasus and Central Asia (CCA), and Mr Seymur Niftaliyev, Director of KPMG Law.

In his speech, Mr Vitaly Yakovlev highlighted issues related to financing the energy transition, renewable energy, and energy security. He emphasised the importance of funding green energy initiatives to mitigate potential climate risks, which is one of the key objectives of the COP29 World Climate Summit. Furthermore, Mr Yakovlev discussed matters concerning greenwashing climate change, decarbonisation, and the environment for green energy investors in our country.

Subsequently, Mr Seymur Niftaliyev, in his speech, explained to the participants the importance of developing green infrastructure in Azerbaijan. Mr Niftaliyev discussed the potential for clean energy throughout the country, the role of Public-Private Partnerships (PPP) in supporting the development of enhanced green infrastructure, which requires substantial investment and the concept of Green Loans, which allocate funding for sustainable projects.

The meeting continued with a round of introductions and a session to gather ideas from the participants.

On 29 April 2022, the Energy Transition Working Group of AHK Azerbaijan launched its activities with a kick-off meeting. The meeting was attended by more than 20 company representatives.

Opening the meeting, Tobias Baumann welcomed the participants, introduced Dr Michael Hilmer, Chairperson of the Energy Transition Working Group and delved into the energy prospects for Azerbaijan and their implications for regional energy security. Dr Michael Hilmer, in his speech, talked about the local alternative and renewable energy sources, expanded on the investment climate in the energy sector and went through the crucial topics pointed out by the member companies in the brief survey on the establishment of the Energy Transition Working Group.

The meeting continued with a round of introductions and a session on gathering ideas from the participants, which Dr Michael Hilmer moderated. During the meeting, it was agreed that the Energy Transition Working Group would focus on addressing key challenges in the regulation of the local energy market, renewable and alternative energy generation capacities, tendering process and funding opportunities.