COP29 explores carbon credit market’s role in decarbonizing power grids

A panel discussion titled Zero Emission Electricity: Can the Carbon Credit Market Decarbonize Power Grids?, organized by SOCAR Trading, took place as part of the ongoing COP29 climate conference in Baku.

The event focused on innovative strategies to achieve zero-emission power grids, News.Az reports.

The session began with an overview of seven small hydroelectric power plants in Azerbaijan's Kalbajar and Lachin regions, which are being considered for inclusion in the voluntary carbon credit market. Foreign experts participating in the discussion highlighted the importance of such projects in reducing carbon emissions and advancing the country's clean energy goals.

The conversation then shifted to the electrification of the economy and the decarbonization of power grids, both of which were identified as critical steps in achieving zero emissions in the energy sector.

In closing, participants were briefed on ongoing and upcoming initiatives led by AzerEnerji JSC, Azerbaijan's state-owned energy company, to further expand the country’s renewable energy capacity and reduce its carbon footprint.

News.Az