BAKU: Azerbaijan’s State Oil Company (SOCAR) has outlined its strategic plans to transform the Karabakh and East Zangezur economic regions into carbon neutral zones, according to Trend reports via SOCAR’s Sustainability Report for 2023. The company intends to implement a series of measures aimed at reducing emissions and enhancing energy efficiency in the region.

According to Trend News Agency, SOCAR’s involvement in these regions will include initiatives such as improving energy efficiency, applying carbon capture and utilization technologies, and establishing infrastructure for electric vehicles. The strategy also involves transitioning from gas to renewable energy sources like hydrogen and other clean energy solutions, alongside the production of “green” energy. These efforts are part of SOCAR’s broader commitment to creating a positive impact on the economy, society, and the environment.

SOCAR, established by a presidential decree on September 13, 1992, is recognized as the first national oil company of
Azerbaijan actively engaged in international economic development. The company plays a significant role in the global oil and gas industry and has defined its mission to align with the Sustainable Development Goals. SOCAR’s strategy emphasizes improving environmental and social efficiency in all new projects, highlighting its dedication to sustainable practices.