Azerbaijan is committed to sustainable development goals and recognizes that public-private partnerships play a crucial role in the development of environmental, social and governance (ESG) aspects, Deputy Minister of Economy Sahib Mammadov told the ESG Summit: Public-Private Partnerships for Sustainable Development held in Baku Wednesday, Report informs.
“Azerbaijan has embarked on a major change by adopting the law on public-private partnership in December 2022 to ensure strong cooperation between sectors. Following these principles, we have developed clear incentives and safeguards to attract investment and stimulate economic growth, while ensuring transparency, efficiency and fairness,” he said.
Mammadov noted that the environment is an integral part of the global supply chain, as more than half of the world's total GDP depends on nature, especially in areas such as construction, agriculture and forestry:
“Azerbaijan supports various initiatives, ranging from the transition to a circular economy to the introduction of clean technologies and the expansion of the use of renewable energy sources.”