The side event, co-organized by the AIR Center and Brazil's CEBRI, discussed the roadmaps developed by Brazil and Azerbaijan to address the climate challenges while transitioning to a sustainable energy future. The role of the oil and gas (O&G) sector in the energy transition, the financing needed for this transition were also among the major highlights of the side session. AIR Center's Chairman of the Board, Farid Shafiyev, said that both countries share some similar features in oil and gas production, as these sectors are the backbone of our economies. 

"While we focus on the green transition, we should also be realistic to make sure that this transition is smooth and is not damaging economies," he added.

Farid Shafiyev said that totally abandoning the conventional sources with the current technologies is impossible, so the only way out is focusing more on environmentally friendly technologies.

He also noted that despite the fact that climate change is purely about energy and environment, very often it is politicised. 

In his presentation, Deputy Energy Minister and COP29 Executive Director Elnur Soltanov emphasized the urgency of collaborative climate action and the role of COP29 in advancing global environmental sustainability. "Any number that takes us closer to 1.5 Celsius is a step in the right direction," he added.

Elnur Soltanov stressed the importance of interim decarbonization, asserting that no single country can tackle this issue in isolation. “All nations must contribute to the process of reducing methane emissions. Increased funding for adaptation efforts is essential,” he concluded.

Roberto Ardenghy, the president of the Brazilian Petroleum and Gas Institute, thanked the Azerbaijani government for the excellent organization of COP.

In his speech, he focused on the vulnerabilities of some countries during the transition processes.

"The only option is to have a reasonable and equitable transition. Innovation and technology should lead us in this matter. Otherwise, we will face energy poverty rather than energy transition. 

In the end, AIR Center's senior advisor Shahmar Hajiyev informed about Azerbaijan's green transition strategies, thereby highlighting the Black Sea Cable project as well as the recent memorandum between Azerbaijan, Kazakhstan, and Uzbekistan on the development and transmission of renewable energy.