Although there is significant potential for the widespread application of green policies and strategies in the SME sector in Azerbaijan, there are a number of challenges to realizing it, Orkhan Mammadov, Chairman of the Small and Medium Business Development Agency (KOBIA) under the Economy Ministry of Azerbaijan, said on the 3rd day of the Baku Climate Action Week, Report informs.
"As a result, we can classify the problems faced by SMEs in boosting their role in the green economy into three main areas. These include lack of information and knowledge, low potential and skills, and finally, limited access to financial resources. Against the background of these challenges, we are working on existing support infrastructure and mechanisms to boost the role of SMEs in the green economy and promote green transition. To this end, we are implementing a unified support services model for SMEs," Mammadov noted.
The KOBIA chairman stated that one of their short-term goals is to develop the Green Business Standard as a first experience both locally and internationally: "We are already working with our partners in this area. We believe that this standard will be a reference for defining the specific framework of the green business concept, taking systematic steps, applying incentive mechanisms, and ultimately implementing a comprehensive green management system."