Address by Georgian Prime Minister Irakli Kobakhidze at COP29 in Baku

Ladies and gentlemen, Georgia is committed to accelerating the global energy transition and aims to achieve carbon neutrality by 2050. We are expanding renewable energy and enhancing energy efficiency, connecting our grid with neighboring countries, and aligning our policies with global climate goals. Through legislative reforms, green technology investments, and public awareness, we drive this transition forward.

In line with the EU-Georgia Association Agreement, we enacted the Energy Efficiency Law and introduced 15 supporting by-laws in 2022-2023 to reduce energy use across sectors. Updated in 2024, our Law on Energy Efficiency of Buildings meets EU standards with stricter regulations for new constructions and mandatory standards for existing buildings.

Georgia has also passed a Renewable Energy Law and eight by-laws to boost renewable production, with plans to regulate biofuels and certify renewable energy installers by 2025. Additionally, with support from KfW and the Asian Development Bank, we are exploring green hydrogen and launched our Green Growth Strategy with the World Bank in 2023.

The flagship initiatives such as Black Sea submarine electricity cable and fibre-optic cable, the Black Sea ferry-feeder services can become a game-changer in the area of connectivity, and we are resolved to accelerate implementation of these initiatives. This project will facilitate the transfer of renewable energy between South Caucasus Countries to EU, reducing dependency on single energy sources and diversifying the energy mix. Establishing a robust grid connection through this cable will allow involved countries to share resources, balance supply and demand, and enhance energy resilience. We believe that Georgia’s initiatives such as the Black Sea Submarine Electricity Cable and the fibre-optic cable, as well as the intensified ferry-feeder services in the Black Sea can offer effective solutions to energy independence and security, food security and reliable alternative transportation routes, especially in current heavy geopolitical environment.

At COP29, Georgia aims to reinforce its energy and climate commitments and we will reaffirm our Nationally Determined Contributions (NDCs) and outline actions from our Integrated National Energy and Climate Plan (NECP), including goals for a 27.4% renewable energy share, a 47% reduction in greenhouse gas emissions from 1990 levels, and improved energy efficiency by 2030.

For developing countries like Georgia, COP29 will provide essential support, with expected access to technical and financial resources from partners such as the World Bank. This will help accelerate our renewable projects, support capacity building, and enable carbon pricing alignment with EU standards. Through these efforts, Georgia is committed to the global energy transition and reducing emissions. Thank you!