Azerbaijan forges ahead with carbon pricing and initial trading systems

Azerbaijan State Tax Service under the Ministry of Economy is diligently working on developing carbon pricing and initial trading systems, Samira Musayeva, Deputy Head of the State Tax Service, said on the fourth day of the Baku Climate Action Week, Report informs.

"Azerbaijan is expanding its carbon pricing mechanisms. We are currently working on a national climate change strategy, aiming to extend it both individually and in a hybrid form. The issue of carbon taxation can also be included here. We should also use related administrative tools," Musayeva stated.

Musayeva acknowledged that Azerbaijan has not yet established a carbon market, but the country is actively studying various market mechanisms to implement an effective system. "As a country, we have not yet created a carbon market. We are learning about different market mechanisms in this regard," she added.