ZAGREB,  13 Nov (Hina) - Croatia consumes at least 29.4% of energy generated from renewable energy sources, and our aim is to raise this percentage to 42.5% until 2030 through green hydrogen and geothermal energy projects, Prime Minister Andrej Plenković said at the COP29, the U.N. climate summit in Azerbaijan on Wednesday.

"Croatia is committed to decarbonisation of its energy system and to accelerating green transition," the premier said in his speech at the UN Climate Change Conference in Baku.

Financial resources for climate-related issues are important, however, it is even more important to act now, said Plenković.

In 2022,  the share of renewable energy in Croatia was 29.5%, and this share continues to rising, said the Croatian PM.

Green hydrogen and geothermal energy projects will make it possible for Croatia to raise this share to 42.5% in the next five years, he announced.

Plenković highlighted Croatia's strong potential in investing into pumped-storage hydroelectricity (PSH), as a form of clean energy storage.

He said that leaving fossil energy for renewables is beneficial not only for the Earth and climate but it is also an economic necessity having in mind the warnings for the International Energy Agency about  the forthcoming peak in oil production.

 In the IEA’s current policies scenario, coal begins to decline around 2025, while oil and gas demand peak towards the end of the decade.

Croatia's efforts have proved that economic growth and responsible treatment of the environment can co-exist. Croatia's carbon footprint is far below the average of the European Union. Of the 193 members of the United Nations, Croatia ranks eight in success in meeting the goals of the UN sustainable growth.

Croatia is helping its neighbours, including Bosnia and Herzegovina, in efforts to boost their resilience to climate change, said Plenković.

Disastrous flooding in BiH, as well as in the south of Croatia and in Spain have shown devastating effects of the temperature rise, he added.

Croatia plans to protect 30% of the Adriatic ecology-wise and Prime Minister said that the Mediterranean is one of the most vulnerable regions, which is why he called for immediate action.

Plenković welcomed the establishment of the department for the Mediterranean within the new European Commission, and this department will be led by Croatian Commissioner Dubravka Šuica.