WEBVTT - COP29: Why you should be paying attention to this year’s big climate talks 0:00:03.420 --> 0:00:05.719 You're listening to AC N A podcast. 0:00:06.920 --> 0:00:10.978 It's that time of year when the world's leaders government negotiators, 0:00:10.989 --> 0:00:16.420 global financiers and industry heavyweights come together to thrash out 0:00:16.430 --> 0:00:20.180 plans to save the planet. It's called Cop the Un's 0:00:20.190 --> 0:00:21.899 Climate Change Summit 0:00:22.280 --> 0:00:25.649 and it's just a few days away. Why should you 0:00:25.659 --> 0:00:28.549 care today? We'll tell you why and have a fun 0:00:28.559 --> 0:00:33.270 little debate about the choice of host city. Hi and 0:00:33.279 --> 0:00:38.110 welcome to Climate conversations. I'm Jack Boyd. Hello Li Ling Tan. 0:00:38.119 --> 0:00:41.549 How are you? Hi, Jack. I'm very well. How are you? 0:00:41.560 --> 0:00:45.860 I'm good. Getting ready to travel. Climate nerd hat on. 0:00:46.049 --> 0:00:48.709 Are you getting psyched for cop? Absolutely. 0:00:49.043 --> 0:00:52.955 It's like Christmas for climate dorks like you and I right. 0:00:52.965 --> 0:00:56.014 Can't wait to hear all the exciting news about climate 0:00:56.025 --> 0:01:01.375 financing implementation of article six, the operationalization of loss and 0:01:01.384 --> 0:01:06.003 damage funding and these very exciting, wait for this drum roll. 0:01:06.014 --> 0:01:10.384 National Collective, quantified goals. Where do they come up with 0:01:10.394 --> 0:01:15.194 these sexy catchy names? Huh? I think I prefer regular Christmas, 0:01:16.610 --> 0:01:19.650 don't we? All? All right. But this is your fourth 0:01:19.660 --> 0:01:21.620 cop though. You're quite a veteran here. Are you sick 0:01:21.629 --> 0:01:23.480 of it yet? No, I'm not sick. Of it. Look, 0:01:23.489 --> 0:01:29.080 sometimes we poke fun at these processes and how elevated 0:01:29.089 --> 0:01:32.160 the discussions tend to be removed from the real world. 0:01:32.169 --> 0:01:36.150 But I, I still do believe that they are important. 0:01:36.489 --> 0:01:38.400 It's the fourth time. Yeah, for me, I wouldn't say 0:01:38.410 --> 0:01:41.250 I'm a veteran. I always run into people there who 0:01:41.260 --> 0:01:45.959 have been to 15 cops or they've been going since 2000. 0:01:46.389 --> 0:01:47.940 And so you still feel like a bit of a 0:01:47.949 --> 0:01:50.860 rookie speaking to some of those people. But yeah, I'm 0:01:50.870 --> 0:01:53.110 looking forward to this one in baku and this cop 0:01:53.120 --> 0:01:55.580 is also being looked at as a technical cop, right? 0:01:55.589 --> 0:01:59.099 So it's not really the fun party going, the more exciting, 0:01:59.110 --> 0:02:02.099 extravagant kind of cops that we've seen in the past before, right? 0:02:02.110 --> 0:02:04.610 I'm not sure if any of them are party going. 0:02:04.870 --> 0:02:07.430 I am interested in a few of the wine bars 0:02:07.440 --> 0:02:10.619 that buck has to offer but I mean, the down time, 0:02:10.940 --> 0:02:14.029 but you know, it's the turnout's gonna be slightly more 0:02:14.038 --> 0:02:14.239 mute 0:02:14.339 --> 0:02:17.288 this year than in previous years. I think if I 0:02:17.300 --> 0:02:20.758 remember correctly, there were some articles about how fewer private 0:02:20.770 --> 0:02:24.399 companies and entities will be attending. Somebody even just said, 0:02:24.410 --> 0:02:26.839 we're waiting to see if cool kids go and if 0:02:26.850 --> 0:02:29.339 they go, maybe we'll go. Yeah, totally. You're right. It's 0:02:29.350 --> 0:02:33.109 going to be technical, it's going to be implementation focused. 0:02:33.309 --> 0:02:37.389 It's not going to be big grandstanding and big announcements 0:02:37.399 --> 0:02:40.109 about climate targets. All the countries are going to be 0:02:40.119 --> 0:02:42.240 saving that for next year. 0:02:42.600 --> 0:02:45.610 Look, I'm really interested in loss and damage obviously because 0:02:45.619 --> 0:02:48.299 it affects our region a lot. There's a big focus 0:02:48.309 --> 0:02:52.508 on finding money that the developing world needs. So I 0:02:52.520 --> 0:02:57.460 think that's going to be front and center for our coverage. Alright, 0:02:57.470 --> 0:03:00.168 let's start with our quiz. 0:03:02.050 --> 0:03:05.029 It's gonna be focused on Azerbaijan. What do you know 0:03:05.038 --> 0:03:08.940 about it? Now? I've been there a couple of times already, 0:03:09.080 --> 0:03:11.889 so I'm just gonna give you some fun facts. Let's 0:03:11.899 --> 0:03:15.130 see if I can get you excited about the host nation. 0:03:15.139 --> 0:03:19.520 Even though we've just downplayed how this cop might be. 0:03:19.690 --> 0:03:24.940 It's important. Yeah, Azerbaijan is called the Land of Fire. 0:03:25.199 --> 0:03:29.020 It has a bunch of mud volcanoes. There's 400 of 0:03:29.029 --> 0:03:29.270 them 0:03:29.699 --> 0:03:32.679 and this kind of nickname has only been enhanced by 0:03:32.690 --> 0:03:36.770 its deep connections to oil. Now, it also has the 0:03:36.779 --> 0:03:40.820 world's oldest carpet museum. Interesting. Right. It's a cool looking 0:03:40.830 --> 0:03:43.889 building that looks like a rolled up carpet and it 0:03:43.899 --> 0:03:45.429 shows off. It does. Yeah. 0:03:46.240 --> 0:03:48.240 And it shows up the kind of the country's deep 0:03:48.250 --> 0:03:51.589 heritage of carpet weaving. I thought that was cool. And 0:03:51.600 --> 0:03:55.770 it's home to the world's largest lake, which is the 0:03:55.779 --> 0:04:00.529 Caspian Sea, beautiful Caspian Sea, which is around the size 0:04:00.539 --> 0:04:03.820 of Japan, which is crazy. All right. I've given you 0:04:03.830 --> 0:04:07.139 lots of facts. But now the question, can you tell 0:04:07.149 --> 0:04:11.339 me how many countries, the Caspian Sea borders 0:04:11.809 --> 0:04:20.089 and what those countries are? Geography? OK. Azerbaijan, of course. 0:04:20.100 --> 0:04:22.349 But Yeah, I have an idea about a couple of 0:04:22.359 --> 0:04:25.230 other countries. We say as le goes and picks up 0:04:25.238 --> 0:04:29.700 her Atlas, look ma hands right up here. All right 0:04:29.720 --> 0:04:31.269 answers will be at the end. 0:04:33.640 --> 0:04:37.260 Ok. Ya, what stories have you picked out for us 0:04:37.269 --> 0:04:37.820 this week? 0:04:39.369 --> 0:04:41.808 I've got a two for one this week and it's 0:04:41.820 --> 0:04:46.209 about the pricing of chocolate during this peak holiday, chocolate 0:04:46.220 --> 0:04:49.679 buying period. So it's getting more expensive and guess what 0:04:49.690 --> 0:04:54.099 the culprit is. Yes, climate change. It has been taking 0:04:54.109 --> 0:04:57.690 a huge chunk out of the supply of chocolate's key ingredient. 0:04:57.700 --> 0:04:58.470 The cocoa bean 0:04:58.799 --> 0:05:01.719 and CN A's global team did two separate stories on 0:05:01.730 --> 0:05:04.599 this the past month. One looks at the impact on 0:05:04.609 --> 0:05:07.678 cocoa makers in Ghana which is of course the second 0:05:07.690 --> 0:05:10.809 largest cocoa producing country in the world after the ivory coast. 0:05:10.950 --> 0:05:14.289 And the other story looks at the consumption end of 0:05:14.299 --> 0:05:16.820 it chocolate buying in the United Kingdom. 0:05:17.200 --> 0:05:20.459 Now here's a clip from Nabil Ahmed Rufa in Ghana 0:05:20.519 --> 0:05:24.018 who looked at the story from the production angle for 0:05:24.029 --> 0:05:27.339 the past three years. Cocoa farmers in Ghana have been 0:05:27.350 --> 0:05:31.059 struggling to meet their production targets. They say long dry 0:05:31.070 --> 0:05:35.570 spells linked to climate change is among the factors contributing 0:05:35.579 --> 0:05:36.809 to the poor harvest. 0:05:37.769 --> 0:05:42.570 The crippling droughts followed extensive rainfall and flooding that dealt 0:05:42.579 --> 0:05:46.869 a double blow to cocoa farmers pests and plant diseases, 0:05:46.880 --> 0:05:51.488 illegal mining and smuggling activity also took huge chunks out 0:05:51.500 --> 0:05:52.410 of the supply. 0:05:53.200 --> 0:05:56.970 Now cocoa prices soared. Hitting record levels earlier this year. 0:05:56.980 --> 0:05:59.899 It's now double what it was since January. And the 0:05:59.910 --> 0:06:03.500 higher cost is already trickling down to chocolate markets and 0:06:03.510 --> 0:06:06.469 retailers around the world. And the UK is definitely one 0:06:06.480 --> 0:06:09.868 of them feeling the pinch. Here's John Beaver reporting out 0:06:09.880 --> 0:06:13.450 of Bristol. The first mass produced chocolate bars were made 0:06:13.459 --> 0:06:18.700 here in Bristol in Southwest England. In 1847 it transformed 0:06:18.709 --> 0:06:22.859 chocolate from a luxury item to a more affordable treat. 0:06:23.369 --> 0:06:28.730 But in recent years, prices have risen sharply since 2010. 0:06:28.738 --> 0:06:32.019 This bar of dairy milk has got smaller but the 0:06:32.029 --> 0:06:35.510 price has almost doubled to just under two pounds. That's 0:06:35.519 --> 0:06:39.309 around $2. 50. The manufacturers have 0:06:39.825 --> 0:06:44.785 inflation and rising costs but the price of cocoa is 0:06:44.795 --> 0:06:49.515 also a problem. These gold coins which are hugely popular 0:06:49.524 --> 0:06:54.434 during the festive season have gone up by 10% since 0:06:54.445 --> 0:06:55.613 last Christmas 0:06:57.029 --> 0:06:59.709 and it looks like supply is still being hammered by 0:06:59.720 --> 0:07:04.940 erratic weather and rainfall. So prices will likely stay up there. Now, 0:07:04.950 --> 0:07:07.260 it's making me think about Charlie and the chocolate factory, 0:07:07.269 --> 0:07:10.850 isn't it? Jack? If you say so, it's like, oh no, 0:07:10.859 --> 0:07:14.769 we can't afford chocolate. We'll have to share and ration. 0:07:14.779 --> 0:07:17.739 How is your daughter going to feel about that? Oh goodness, 0:07:17.750 --> 0:07:19.989 she's getting so much of a fill right now from 0:07:20.000 --> 0:07:21.959 leftover chocolate candy from Halloween. 0:07:22.609 --> 0:07:24.019 It is insane. 0:07:25.829 --> 0:07:29.100 Ok. It's time for our main story. This week we're 0:07:29.109 --> 0:07:32.459 talking cop 29 and we'll have a debate soon and 0:07:32.470 --> 0:07:37.260 hear from the CEO of the summit in an exclusive interview. 0:07:37.269 --> 0:07:41.450 But first let's go straight to why the world is 0:07:41.459 --> 0:07:45.179 watching this cop and why you the earthly citizens should 0:07:45.190 --> 0:07:47.679 also care about it. Jack, you mentioned earlier that you're 0:07:47.690 --> 0:07:49.619 about to head out, right? You're flying out to baku 0:07:49.649 --> 0:07:52.540 tomorrow night. No, to cover this. Yep, yep, bags are 0:07:52.549 --> 0:07:55.140 being packed. Awesome. 0:07:55.350 --> 0:07:58.480 And you've also been working on a few preview stories 0:07:58.489 --> 0:08:01.970 ahead of the summit and one of them is on 0:08:01.980 --> 0:08:05.320 the five things that we need to know. Now, looking 0:08:05.329 --> 0:08:06.369 at this number one, 0:08:06.679 --> 0:08:11.078 this cop is really about climate financing, right? That's the 0:08:11.089 --> 0:08:16.809 overarching theme. Show me the money as I wrote in 0:08:16.820 --> 0:08:18.660 the story. Yeah, look, finance is going to be the 0:08:18.670 --> 0:08:21.940 central pillar of the talks and perhaps the most importance 0:08:22.089 --> 0:08:26.660 will be the negotiations around what you mentioned earlier, the 0:08:26.670 --> 0:08:31.440 new collective quantified goal get ready. You're gonna be hearing 0:08:31.480 --> 0:08:33.619 a lot about that. Yeah. 0:08:34.130 --> 0:08:38.020 So basically it's a financial framework that's going to replace 0:08:38.039 --> 0:08:43.739 this $100 billion in climate finance that advanced economies have 0:08:43.750 --> 0:08:47.630 been promising to give poorer nations every year. And that's 0:08:47.640 --> 0:08:49.010 basically been a fail. 0:08:49.380 --> 0:08:57.669 And so this new NCQG, what a catchy name NCQG 0:08:58.010 --> 0:09:01.289 is going to be aiming even higher we think. So 0:09:01.299 --> 0:09:03.349 that's gonna be a watch. They're gonna try and mobilize 0:09:03.359 --> 0:09:04.189 even more money. 0:09:04.450 --> 0:09:06.989 And then as I mentioned, loss and damage, which is 0:09:07.000 --> 0:09:09.840 money that is meant for countries bearing the brunt of 0:09:09.849 --> 0:09:13.119 climate change will also be one of our focuses. And 0:09:13.130 --> 0:09:17.069 countries like the Philippines have been really leading the charge 0:09:17.080 --> 0:09:19.919 on that loss and damage and say it with me 0:09:19.929 --> 0:09:26.549 together and CQGY. Remember that 0:09:27.520 --> 0:09:30.260 moving on to number two. Now all of this is 0:09:30.270 --> 0:09:32.900 set against the backdrop of a hot planet and, and 0:09:32.909 --> 0:09:36.469 one where the weather is getting increasingly warmer. Now, things 0:09:36.479 --> 0:09:39.140 haven't improved on that front in this past year where 0:09:39.150 --> 0:09:42.890 we saw some record high temperatures. We've spoken multiple times 0:09:42.900 --> 0:09:47.909 about this hurricanes, floods and of course, the erratic weather patterns, right? 0:09:47.919 --> 0:09:49.750 How much of this is going to factor in Jack? 0:09:50.070 --> 0:09:54.299 Yeah, I mean, global temperatures have continued to rise. Surface 0:09:54.309 --> 0:09:57.489 and ocean temperatures have both hit record highs this year. 0:09:57.739 --> 0:10:01.650 And when we look at the concentrations of carbon dioxide 0:10:01.659 --> 0:10:04.309 and methane, they are also at all time, high levels 0:10:04.320 --> 0:10:07.909 in the atmosphere and this 1.5 degrees barrier that all 0:10:07.919 --> 0:10:11.010 of this is meant to prevent. We've breached it this year. 0:10:11.030 --> 0:10:14.289 So all of this is the backdrop to these talks. 0:10:14.929 --> 0:10:17.799 So number three, of course, is the big question. Could 0:10:17.809 --> 0:10:21.530 this be the end of fossil fuels for every cop? 0:10:21.539 --> 0:10:24.270 It's been a point of contention. Can we make the 0:10:24.280 --> 0:10:27.900 needle move? I don't think so. No. This from our 0:10:27.909 --> 0:10:31.780 in house optimist look, simply put fossil fuel production has 0:10:31.789 --> 0:10:35.750 continued to rise just like the temperatures. And Azerbaijan itself 0:10:35.760 --> 0:10:39.679 is a Petro state 90% of its exports are oil 0:10:39.690 --> 0:10:41.590 and gas and it's in charge of all of these 0:10:41.599 --> 0:10:42.070 talks 0:10:42.530 --> 0:10:46.520 last year. There was this mention of transitioning away from 0:10:46.530 --> 0:10:49.959 fossil fuels in the final cop agreement. So we know 0:10:49.969 --> 0:10:53.479 that there are going to be disputes again about some 0:10:53.489 --> 0:10:57.260 of that language in the final statement out of the summit. Ok. 0:10:57.340 --> 0:11:00.289 Number four, this cop is taking place at a time 0:11:00.299 --> 0:11:03.549 of multiple conflicts. It's been evidently a shocking 0:11:03.794 --> 0:11:06.733 for wars. We've got Ukraine, the escalating crisis in the 0:11:06.744 --> 0:11:10.375 Middle East and of course, the protracted Sudan conflict now 0:11:10.385 --> 0:11:12.934 is all of that taking attention away from climate action 0:11:12.945 --> 0:11:16.294 and the principle of cooper operation and consensus in Baku. 0:11:16.585 --> 0:11:19.434 I think there's a high chance that that is the 0:11:19.445 --> 0:11:22.164 case and the likely outcome I think is simply less 0:11:22.174 --> 0:11:24.674 ambition at this summit. There'll be less money 0:11:25.039 --> 0:11:29.140 and more distrust and so that doesn't really bode well 0:11:29.150 --> 0:11:32.309 for a very successful cop. If we're being brutally honest here, 0:11:32.479 --> 0:11:35.679 experts have told me that this level of conflict is 0:11:35.690 --> 0:11:39.059 unprecedented since the UN F Triple C was set up 0:11:39.200 --> 0:11:43.289 in 1992. Having said all that the organizers in Baku 0:11:43.299 --> 0:11:46.859 are really pushing peace as a central theme this year 0:11:46.869 --> 0:11:48.059 for the first time. So 0:11:48.380 --> 0:11:51.590 we'll see if that makes any impacts on decisions. Jack, 0:11:51.609 --> 0:11:54.140 you mentioned the UFC. And just so everybody is aware 0:11:54.150 --> 0:11:57.059 of that is the UN the United Nations Framework Convention 0:11:57.070 --> 0:12:00.929 on Climate Change is under the UFCCC So the last one, 0:12:00.940 --> 0:12:01.590 number five, 0:12:02.320 --> 0:12:05.359 my favorite of all carbon trading. Now this is a 0:12:05.369 --> 0:12:09.539 very complex topic, but we could see finally the global 0:12:09.549 --> 0:12:12.400 rulebook for article six sorted out. Yes. 0:12:13.210 --> 0:12:17.119 Yeah, maybe it's been AAA decade in the making. So 0:12:17.130 --> 0:12:21.669 everybody is, I think optimistic that article six might finally 0:12:21.919 --> 0:12:26.630 be completed. Now it covers the rules for international carbon 0:12:26.640 --> 0:12:30.130 markets which can be used by countries to meet their 0:12:30.140 --> 0:12:34.679 emissions reductions targets. So let's say you that the nation 0:12:34.690 --> 0:12:37.439 of Li Ling wants to pollute more. Yeah, 0:12:37.784 --> 0:12:41.084 you could buy credits from me. The nation of Jack 0:12:41.094 --> 0:12:44.965 if I've done things like preserving my rainforests for example, 0:12:44.974 --> 0:12:47.233 and I have credits to sell you. So the idea 0:12:47.244 --> 0:12:50.724 is that eventually it's cheaper for you to decarbonise than 0:12:50.734 --> 0:12:53.515 having to keep buying those offsets from me. 0:12:54.179 --> 0:12:58.459 Super simple explanation. Article six really goes deep into lots 0:12:58.469 --> 0:13:01.449 of different areas. So we'll be watching that as well. 0:13:01.640 --> 0:13:04.539 I really like that explanation. The nation of lien versus 0:13:04.549 --> 0:13:09.330 the nation of Jack, the nation of lien and the 0:13:09.340 --> 0:13:13.400 nation of Jack buying and selling carbon credits to meet 0:13:13.409 --> 0:13:17.390 our net zero targets. That's nice. All right. Next, I 0:13:17.400 --> 0:13:20.869 want you to hear from one of the central figures 0:13:20.900 --> 0:13:23.209 of COP 29. It's the CEO 0:13:23.530 --> 0:13:27.400 and the Deputy Energy Minister of Azerbaijan El Nour Sultanov. 0:13:28.400 --> 0:13:31.229 Now I interviewed him in Baku at the COP 29 0:13:31.239 --> 0:13:35.030 HQ which is located in the White City which is 0:13:35.039 --> 0:13:38.150 a part of Baku that was once condemned due to 0:13:38.159 --> 0:13:40.469 contamination from oil extraction 0:13:40.820 --> 0:13:43.479 and those oil fields are still everywhere, mind you, but 0:13:43.489 --> 0:13:45.780 they have cleaned up this part of the city now. 0:13:45.789 --> 0:13:48.169 It's a bit of a showcase for the organizers. I 0:13:48.179 --> 0:13:51.358 started by asking him what Azerbaijan can bring to the 0:13:51.369 --> 0:13:54.179 table on climate as the cop president. 0:13:55.940 --> 0:13:59.640 And of course, the green transition transitioning in general because 0:14:00.119 --> 0:14:04.369 uh global climate cli global warming and climate change is 0:14:04.380 --> 0:14:07.200 not just about energy sphere. Of course, we have uh 0:14:07.210 --> 0:14:11.690 agricultural sphere, we have industry, we have base management issues 0:14:11.700 --> 0:14:13.849 out there. But again, we are very happy. We take 0:14:13.859 --> 0:14:16.030 pride in the fact that this is kind of very 0:14:16.039 --> 0:14:19.039 nicely fits into the history into the narrative of the 0:14:19.049 --> 0:14:20.020 country in general. 0:14:21.080 --> 0:14:23.890 What are the expectations? I think we like it or not. 0:14:23.900 --> 0:14:28.969 This is finance will be at the core of this 0:14:28.979 --> 0:14:31.890 year's climate negotiations. And as you know, there are two 0:14:31.900 --> 0:14:35.359 major tracks, one is negotiation track and we don't have much. 0:14:35.369 --> 0:14:39.169 This is basically in a triple C led process. They 0:14:39.179 --> 0:14:42.200 tell us what our mandates are and basically we are 0:14:42.210 --> 0:14:47.380 helping the United Nations Convention on climate change to advance 0:14:47.390 --> 0:14:50.119 the topics that they should advance and by hosting and 0:14:50.130 --> 0:14:50.799 also by, 0:14:51.049 --> 0:14:52.869 by co leading process with them. 0:14:54.549 --> 0:14:57.840 And finance is important and I think it will be 0:14:57.849 --> 0:15:00.260 very significant issue. It is at the forefront. And as 0:15:00.270 --> 0:15:06.609 you know of the around dozens of issues and security 0:15:06.619 --> 0:15:10.979 definitely looms large, large. But our position is this and 0:15:10.989 --> 0:15:14.989 vision wise, we expressed this several times already. Finance cannot 0:15:15.000 --> 0:15:19.289 be understood in abstract terms. Finance is there to enable action, 0:15:19.299 --> 0:15:20.570 enable climate action. 0:15:21.059 --> 0:15:25.500 And by climate action, we mean really both mitigation adaptation. 0:15:25.510 --> 0:15:30.049 So basically the motto of the negotiation track I would 0:15:30.059 --> 0:15:35.400 say is enhanced ambition and enable action and enabling action. 0:15:35.409 --> 0:15:37.599 Basically means that if we want to have that kind 0:15:37.609 --> 0:15:40.809 of collect and bold action in climate, we need support, 0:15:40.820 --> 0:15:43.669 we need enablers, we need means of implementation. And as 0:15:43.679 --> 0:15:46.840 you know, we have finance, technology and capacity building and 0:15:46.849 --> 0:15:50.210 finance definitely is the most important thing out there 0:15:51.109 --> 0:15:55.559 as an important oil and gas producer and exporter does 0:15:55.570 --> 0:15:59.609 being the host of cop add pressure to your domestic 0:15:59.619 --> 0:16:06.109 energy strategy or conversely add opportunities to your domestic energy strategy. Yeah, 0:16:06.119 --> 0:16:09.250 I mean, Jack the uh as we talk like at 0:16:09.260 --> 0:16:13.979 the start, the entire world economy is based on hydrocarbons, 0:16:14.099 --> 0:16:16.289 we like it or not. That's a matter of fact 0:16:16.619 --> 0:16:20.320 and everybody, every country in the world is an oil country, 0:16:20.330 --> 0:16:24.030 either pro producer country or consumer country or both. 0:16:24.750 --> 0:16:30.109 We are basically current to producing around 0.5% of gas 0:16:30.119 --> 0:16:34.979 and 0.55% of oil and our oil production levels are 0:16:34.989 --> 0:16:38.659 going down. And this is also part of the deliberate 0:16:38.669 --> 0:16:41.909 policy by the government because gasping is really rich in 0:16:41.919 --> 0:16:46.450 terms of natural resources including hydrocarbons. But there is more 0:16:46.460 --> 0:16:47.419 and more shift towards 0:16:47.872 --> 0:16:53.122 gas and green energy. Azerbaijan commissioned the biggest solar power 0:16:53.132 --> 0:16:56.672 plant in the entire region in October last year. And 0:16:56.682 --> 0:17:00.432 by 2027 in the installed capacity share of renewables will 0:17:00.442 --> 0:17:03.862 go up to 30%. Also a very, very significant number 0:17:03.872 --> 0:17:06.772 in our region. Definitely, I should also tell you that 0:17:06.802 --> 0:17:10.432 we are really looking at not what you are doing 0:17:10.546 --> 0:17:13.816 currently in terms of hydrocarbons, but what you can contribute 0:17:13.826 --> 0:17:18.086 to tackling climate crisis. So this is the measure that 0:17:18.095 --> 0:17:21.225 we look at ourselves and at others, what can you 0:17:21.234 --> 0:17:23.994 bring to the table to tackle the climate crisis we 0:17:24.005 --> 0:17:26.605 are facing because we can really lose it all. And 0:17:26.615 --> 0:17:29.326 for us, the target should be, as I said before 0:17:29.336 --> 0:17:33.355 1.5 again, the possibility of overshoot is quite high. 0:17:33.800 --> 0:17:37.209 But as the first global stock take at cop 28 0:17:37.219 --> 0:17:40.060 made it very clear. The current in DC, current plans 0:17:40.069 --> 0:17:43.188 are not enough. We need course correction and that is 0:17:43.199 --> 0:17:49.180 1.5 the target North Star should be 1.5. And we 0:17:49.189 --> 0:17:52.939 are asking everybody and first and foremost ourselves, what if 0:17:52.949 --> 0:17:56.310 we have experience in oil and gas business? Historically speaking, 0:17:56.569 --> 0:17:59.589 what is that technology wise? And we saw that in 0:17:59.599 --> 0:18:03.349 C 28 as well, technology wise, there are a lot 0:18:03.359 --> 0:18:06.228 of things, experience wise, a lot of things that can 0:18:06.239 --> 0:18:11.150 help us to advance the tackling of climate crisis. And again, 0:18:11.160 --> 0:18:12.349 one more time. This is the 0:18:12.535 --> 0:18:15.594 measure. If we look at ourselves and to others, what 0:18:15.604 --> 0:18:18.073 you can bring to the table if that's the experience 0:18:18.084 --> 0:18:21.265 in the hydrocarbon sector. Perfect. As long as in good faith, 0:18:21.405 --> 0:18:25.994 you are utilizing all those resources again to handle, to 0:18:26.005 --> 0:18:28.425 solve the problem that we are facing in terms of climate. 0:18:29.479 --> 0:18:34.609 How are global events impacting climate talks and negotiations and 0:18:34.619 --> 0:18:38.640 the mobilization of these finances that you talk about conflicts, 0:18:38.650 --> 0:18:40.780 for example, in Ukraine in Gaza 0:18:41.319 --> 0:18:44.698 and important elections that have happened this year as well. 0:18:45.030 --> 0:18:45.479 I think 0:18:45.489 --> 0:18:49.010 even historically, this year will be standing out in terms 0:18:49.020 --> 0:18:52.540 of how many people went to ballot boxes all over 0:18:52.550 --> 0:18:57.020 the world. But our position is that time is short, 0:18:57.030 --> 0:19:03.069 resources are always not enough, especially given the task that 0:19:03.079 --> 0:19:03.859 we are facing 0:19:04.089 --> 0:19:06.829 and therefore we don't have much attention to spare on 0:19:06.839 --> 0:19:10.229 things that we cannot control elections will happen. This is 0:19:10.239 --> 0:19:14.349 the normal situation in the world. Unfortunately, conflicts are continuing. 0:19:14.530 --> 0:19:17.780 And in fact, one of the main action agenda items 0:19:17.790 --> 0:19:21.530 for us is the nexus between peace and climate. We 0:19:21.540 --> 0:19:23.189 attach a lot of importance to that 0:19:23.410 --> 0:19:28.660 because Azerbaijan's presidency became possible when Azerbaijan and Armenia supported 0:19:28.670 --> 0:19:31.540 each other. And we have been over conflict for over 0:19:31.550 --> 0:19:34.849 30 years. And for us, this is something to capitalize 0:19:34.859 --> 0:19:38.069 upon and move forward. But again, back to your question, 0:19:38.500 --> 0:19:42.349 we focus on things that we have mandate on and 0:19:42.359 --> 0:19:45.729 that we can change and that's leading climate negotiations and 0:19:45.739 --> 0:19:51.079 also making sure that on presidential action agenda, presidency action agenda, 0:19:51.099 --> 0:19:54.010 those 14 items that probably are going to be talking 0:19:54.020 --> 0:19:56.329 about at least in some of them, we can move 0:19:56.339 --> 0:19:57.849 forward because negotiations, 0:19:57.925 --> 0:20:01.944 negotiations and requiring consensus fine. And we believe that there 0:20:01.954 --> 0:20:06.515 will be significant outcomes but any step taken forward matters 0:20:06.824 --> 0:20:10.354 and even healthy step forward matters. And that for that 0:20:10.364 --> 0:20:13.744 we have action agenda items. Again, we are really laser 0:20:13.755 --> 0:20:16.435 focused on things that we can do and hopefully we 0:20:16.444 --> 0:20:17.385 are going to deliver. 0:20:19.170 --> 0:20:22.819 That was my chat with El Noor Sultanov. Now we're 0:20:22.829 --> 0:20:25.510 gonna take off our climate nerd hats for a bit. 0:20:25.520 --> 0:20:29.680 We're gonna put on our opinion hats. It's something we 0:20:29.689 --> 0:20:31.879 don't always get to do as journalists, but just for 0:20:31.890 --> 0:20:34.510 the sake of this debate and it's a big issue 0:20:34.520 --> 0:20:37.790 that I always hear. You always hear people ask should 0:20:37.800 --> 0:20:43.229 fossil fuel giants be chosen to lead these climate talks? 0:20:43.719 --> 0:20:45.709 And this year will be the third time in a 0:20:45.719 --> 0:20:49.540 row following on from the UAE and Egypt for the 0:20:49.550 --> 0:20:53.089 sake of debate in the affirmative. We have you Li Ling, 0:20:53.099 --> 0:20:58.239 I'll take the negative, make your case for their involvement 0:20:58.250 --> 0:21:02.699 and their leadership of these climate summits. Ok. So these 0:21:02.709 --> 0:21:06.229 petro states major oil producing countries, they are the culprits 0:21:06.239 --> 0:21:09.170 when it comes to greenhouse gas emissions and carbon emissions. 0:21:09.180 --> 0:21:12.030 So they need to be part of the solution in 0:21:12.040 --> 0:21:13.329 a significant way 0:21:13.555 --> 0:21:16.224 in order to really have any kind of traction in 0:21:16.234 --> 0:21:19.813 hitting global warming targets. They need to be a big 0:21:19.824 --> 0:21:23.655 part of the conversation and just making available renewable and 0:21:23.665 --> 0:21:26.974 alternative energy or investing in. It isn't enough if people 0:21:26.984 --> 0:21:31.744 can still easily access affordable gas, oil and coal. And 0:21:31.755 --> 0:21:32.375 so 0:21:32.609 --> 0:21:35.589 in order to get them on board and reduce fossil 0:21:35.599 --> 0:21:38.390 fuel and phase out fossil fuel production, we need them 0:21:38.400 --> 0:21:40.520 at the table, we need them on board and we 0:21:40.530 --> 0:21:43.479 need them to drive part of this transition because that's 0:21:43.489 --> 0:21:47.810 what it takes. Ok, I hear you. I agree to 0:21:47.819 --> 0:21:51.560 an extent that they have to be part of the solution. 0:21:52.160 --> 0:21:56.349 But should they be actually in charge of these summits? 0:21:56.359 --> 0:22:00.839 That's a different level of involvement. That's a different level 0:22:00.849 --> 0:22:05.619 of influence that countries that have, let's face it, vested interests, 0:22:05.630 --> 0:22:11.369 conflicts of interest in continuing the status quo and the 0:22:11.380 --> 0:22:16.000 world's dependency on their resources that of course they want 0:22:16.010 --> 0:22:20.229 to sell to us. The stability of their economy is 0:22:20.239 --> 0:22:21.448 totally tied 0:22:21.709 --> 0:22:25.660 to ensuring that oil and gas continues to be produced. 0:22:26.130 --> 0:22:29.520 And we know that they are leading causes for global 0:22:29.530 --> 0:22:33.430 warming and when they are in the driver's seats, I 0:22:33.439 --> 0:22:37.369 believe that they have too much say over how much 0:22:37.380 --> 0:22:41.609 progress can be made. And we are shooting ourselves in 0:22:41.619 --> 0:22:46.569 the foot a bit by not enhancing ambition, which ironically 0:22:46.579 --> 0:22:50.560 is one of the taglines of Azerbaijan's presidency, 0:22:50.949 --> 0:22:54.129 right? Ok. So let's look at it this way. We 0:22:54.140 --> 0:22:58.180 need them as hosts or we stand to gain from 0:22:58.189 --> 0:23:02.449 them as hosts of these cop summits. Because by putting 0:23:02.459 --> 0:23:04.729 them in that spotlight, we are in a way holding 0:23:04.739 --> 0:23:08.380 them to account, right. They are forced to really weigh 0:23:08.650 --> 0:23:08.930 the 0:23:09.030 --> 0:23:13.300 impacts of their fossil fuel production of their economy is 0:23:13.310 --> 0:23:18.688 driven by this and look at opportunities or really or 0:23:18.699 --> 0:23:22.449 to galvanize opportunities for their own transition. I think there 0:23:22.459 --> 0:23:25.198 is a recognition that climate change is a reality and 0:23:25.209 --> 0:23:27.010