Within the framework of COP29, the "Azerbaijan Investment Company" OJSC (AIC) has signed several agreements aimed at advancing projects that contribute to the development of the green economy. These agreements, made in partnership with international stakeholders, are designed to foster sustainable development and innovation in Azerbaijan.

A Charter agreement for "Ecostar Green" LLC, a joint venture established by the "Azerbaijan Investment Company" OJSC, "SOCAR Downstream" (SDM), and "Technip Energies Italy S.P.A (TEN)" was signed. The shares of the participants of the Company in the charter capital are as following: AIC - 30%; SDM – 35%  and TEN - 35%. This partnership brings together the expertise and resources of key players in the energy, engineering, and investment sectors to foster cutting-edge solutions in the field of waste management and clean energy.

"Ecostar Green" LLC will lead the front-end engineering design (FEED) for the "Waste Monetization" project, which utilizes Alterra pyrolysis technology to produce pyrolysis oil from plastic waste. By using this innovative technology, the project aims to address one of the most pressing global challenges—plastic waste—while also providing an alternative energy source that can help reduce reliance on fossil fuels.

The implementation of the project with a total cost of 97 million Euros will support waste management and the development of alternative energy sources in Azerbaijan. At the same time, it will ensure more efficient use of the country's natural resources by increasing the diversity and sustainability of industrial products.