COP29 Chief Executive Accused Of Promoting Fossil Fuel Investments, BBC Reveals

BBC investigation reveals COP29 chief executive promoting fossil fuel deals, sparking backlash over conflict with climate conference goals.

In a troubling revelation, a senior official of the upcoming COP29 climate summit in Azerbaijan, Elnur Soltanov, has allegedly used his position to discuss fossil fuel investment opportunities with a man posing as an investor, according to a BBC investigation.

Secret recordings reveal Soltanov, chief executive of Azerbaijan’s COP29 team and deputy energy minister, talking about “investment opportunities” within Azerbaijan’s state oil and gas company, Socar, raising questions over the ethical integrity of the summit’s leadership.

In an online meeting, Soltanov initially highlighted COP29’s objective of “solving the climate crisis” and promoting a “just transition” away from hydrocarbons. However, he went on to suggest the investor consider Azerbaijan’s new gas fields and pipeline projects. Soltanov emphasised that Socar’s activities spanned the globe, hinting at potential joint ventures in fossil fuel production.

“There are a lot of joint ventures that could be established,” Soltanov says on the recording. “Socar is trading oil and gas all over the world, including in Asia.” Soltanov then described natural gas as a “transitional fuel”, adding: “We will have a certain amount of oil and natural gas being produced, perhaps forever.”

The UN climate science body, the Intergovernmental Panel on Climate Change, acknowledges there will be a role for some oil and gas up to 2050 and beyond. However, it has been very clear that “developing… new oil and gas fields is incompatible with limiting warming to 1.5C”.
It also goes against the agreement the world made at the last global climate summit to transition away from fossil fuels.

Soltanov appeared eager to help get discussions going, telling the potential sponsor: “I would be happy to create a contact between your team and their team [Socar] so that they can start discussions.”

The BBC report also found that Azerbaijan’s COP29 team discussed a $600,000 sponsorship deal with the fake investor in exchange for Socar introductions and involvement in a COP29 event on “sustainable oil and gas investing.” This proposal included perks such as five passes with full access to the summit and drafted a contract which initially required the firm to make some commitments to sustainability, but sustainability requirements within the draft contract were gradually softened.

Critics argue that Soltanov’s actions undermine COP29’s climate goals, which include promoting fossil fuel reduction rather than facilitating new investments. Former UN climate official Christiana Figueres described the move as a “betrayal” of the COP mission, warning that such conduct starkly contradicts the summit’s standards, which demand impartiality and dedication to climate solutions. She said such behaviour was “contrary and egregious” to the purpose of COP and “a treason” to the process.

Azerbaijan’s team and Socar have not responded to the BBC’s requests for comment. This incident follows last year’s revelation of leaked documents that showed plans by the UAE to use its role as host of COP28 to explore similar fossil fuel deals, heightening scrutiny on host nations’ commitment to the summit’s climate objectives.

Melissa Enoch

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