New Report Provides An In-Depth Look at Western Fossil Fuel Investments in Azerbaijan

[Linden, VA] – A new report by Crude Accountability, “Western Complicity and COP29: Azerbaijan’s Authoritarian Petro-Regime Propped Up and Greenwashed by Western Investments,” explores the connections between significant Western investments in Azerbaijan’s extractive industries and the deteriorating state of human rights in the country. 

Using data analysis, policy research, and case studies, the report provides an overview of a wide range of Western-funded projects in Azerbaijan, including those financed by institutional actors (the European Bank for Reconstruction and Development and the European Union), multinational actors (the Middle Corridor project), and private actors (bp).  Further, the report compares the operations of those actors to their purported objectives and policies, arguing that, while most investors tout their efforts to support the rule of law and reduce carbon emissions, they fail to adequately apply human rights, environmental, and social standards in their operations in Azerbaijan. 

This argument is more important now than ever, as Azerbaijan is hosting the Twenty-ninth Conference of the Parties (COP29) of the United Nations Framework Convention on Climate Change (UNFCCC) in Baku. At the beginning of the second week of COP29, the Azerbaijani leadership appears to be using the gathering to attract investment rather than focusing on climate commitments.

“Although COP29 should be about finding climate solutions, including reducing emissions and our reliance on fossil fuels, Azerbaijan’s president Aliyev has been blatant in his public statements that rather than reducing its fossil fuel portfolio, Azerbaijan is planning to expand its oil and gas production,” says Kate Watters, Crude Accountability Executive Director.   

“COP29 is turning into an investment opportunity for big oil and other corporations, while independent Azerbaijani civil society is silenced–behind bars or under house arrest,” says Watters, noting that at least 1773 fossil fuel lobbyists have received accreditation to attend COP29. Many members of civil society and local communities cannot participate in the meeting or are risking their lives and freedom to speak out against environmental damage caused by fossil fuel investments. 

The report also provides concrete recommendations for public banks, private investors, and those attending COP29 in Baku. 

The full report is available for download HERE.

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Tel./Fax: 540.252.2592

kate@nullcrudeaccountability.org