Neighbouring countries need each other, and societies need peace and cooperation more than ever during the COVID-19 pandemic. However, the South Caucasus still suffers from ethnic conflicts occurring as a result of the ethno-federalist politics of the Soviet Union. The Azerbaijan-Armenia war of 2020 had severe consequences for both sides, and a new situation has emerged in the region with the direct involvement of countries such as Russia and Turkey. On the other hand, the South Caucasus offers a huge potential for cooperation among the countries of the region with its geopolitical and geoeconomic importance. Considering current dynamics, the aim of this paper is to evaluate new opportunities for peace and cooperation in the South Caucasus and their possible effects for the region. The biggest obstacles to cooperation in the region are identity-based conflicts. However, the paper argues that increasing non-traditional security risks such as pandemic, climate change, environmental problems, natural disasters, and famine threaten individuals directly regardless of their ethnicity, identity social class, or status. I argue that this is the main factor that makes cooperation necessary and possible in the South Caucasus.