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Nazrin Abdul

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Taking into account global climate change, the government of Azerbaijan supports the transition to a circular economy, the implementation of clean technologies, the promotion of clean energy sources, recycling, and projects related to the cleanup of polluted areas. This process will continue.

Economy Minister Mikayil Jabbarov stated this at the international conference on carbon assessment organized by the State Tax Service in Baku, Azernews reports.

He noted that the "green projects" of entrepreneurs are supported by preferential loans, grants, and "Startup" certificates. "We believe that if we continue our efforts at today’s level, we will be able to achieve our goals faster," he said.

"Steps have been taken regarding the application of the concepts of 'smart city,' 'smart village,' and 'green energy zone' in our lands freed from occupation, as well as the establishment of foreign-invested enterprises focused on greening and decarbonization in these areas. We are also actively developing our hydropower potential in Garabagh and Eastern Zangezur. Through the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), we aim to inform interested parties about the projects being implemented in the Garabagh and Eastern Zangezur economic regions. Our priority is to develop the liberated territories from a gray zone to a 'green energy' zone and to transform the Caspian Sea into a center for the production and export of 'green energy,'" the minister added.

At the same time, he highlighted that carbon assessment in Azerbaijan will include state support measures for business development.

"It is planned to involve small and medium-sized businesses in the carbon assessment process, supporting their growth and reinvesting the funds collected from carbon taxes into business development. The process of decarbonization and the transition to alternative energy in our country will be supported by all means, including tax policy," he stated.

"Our tax policy is a crucial link in economic and political processes, and this effective tool will play a significant role in attracting private investments, combating climate change, and expanding the use of green technologies. The State Tax Service is studying leading international practices to determine the scope of ecological and green taxes. Azerbaijan's measures for the green transition are not limited to our country; our goal is to implement several regional and even global initiatives. We must evaluate at least the regional implementation of these projects, and we should not undertake this process alone; we must collaborate with international partners," the minister concluded.

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Nazrin Abdul is AzerNews’ staff journalist, follow her on Twitter: Nazrin

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