Azerbaijan accounts for a mere 0.13% of the world's total carbon emissions, said Huseyn Huseynov, Head of the Sustainable Development and Social Policy Department at Azerbaijan's Economy Ministry, Report informs.
Huseynov made the announcement during a session themed "Economic Impacts of Carbon Tax" at an international conference on carbon assessment organized by the State Tax Service in Baku.
"Although this percentage may seem insignificant, it should not be overlooked," Huseynov emphasized. "We do not have another planet, and it is crucial that we continue developing our policies and decarbonization strategies to contribute positively to global challenges."
The official noted that Azerbaijan has committed to reducing its emissions by 40% by 2040. He suggested that the country could also consider a net-zero emission scenario. "This scenario requires a thorough analysis of the impacts on various economic sectors for the strategy to be adopted."
Huseynov added that Azerbaijan’s Economy Ministry, in collaboration with the Ministry of Ecology and Natural Resources, is on the verge of preparing a new long-term strategy for carbon taxation. "To achieve this, a favorable economic environment must be created, and an ecological assessment is crucial," Huseynov stated. "We need to determine the amount of emissions in each sector, conduct evaluations, select the right scenario, and set appropriate ambitions along the way."