Our conference aims to address the climate crisis and transition away from hydrocarbons in a just and equitable manner, welcoming solutions from all stakeholders, including the oil and gas industry. While we are open to investments in green transitioning projects, we also see opportunities in Azerbaijan’s plans to increase gas production, including new pipeline infrastructure. This includes potential joint ventures and the role of natural gas as a transitional fuel, recognizing that some oil and gas production may continue beyond 2050. However, we emphasize that developing new oil and gas fields is incompatible with limiting warming to 1.5°C, a point that aligns with the global agreement to transition away from fossil fuels.
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UN Secretary-General António Guterres warns that the world is underestimating the risk of catastrophic climate breakdown, with global heating on track to exceed 1.5°C in the coming years. He highlights the potential for irreversible tipping points, like the collapse of the Amazon rainforest and the Greenland ice sheet, and emphasizes the urgent need for deep cuts to greenhouse gas emissions. Guterres urges greater coordination on environmental crises, stressing the interconnectedness of climate change and biodiversity loss, and emphasizes the importance of phasing out fossil fuels completely to avoid a crippled Paris Agreement. He acknowledges that limiting warming to 1.5°C is still possible but warns that exceeding this threshold would have devastating consequences.
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The European Union’s space programme has determined that 2024 is likely to be the hottest year on record, with global temperatures exceeding 1.5°C above pre-industrial levels for the first time. This alarming finding comes as global leaders prepare for the Cop29 climate summit and follows the election of Donald Trump, a climate change denier, as US President. Scientists emphasize that while a single year exceeding the 1.5°C threshold does not signify failure to meet climate targets, it represents a significant milestone and underscores the urgent need for global action to mitigate climate change. The Copernicus Climate Change Service report highlights the escalating consequences of global warming, including record-breaking heat, declining Arctic sea ice, and extreme weather events, emphasizing the critical need for global commitment to reducing emissions.
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John Q. Hosedrinker