Emil Majidov: Green transition requires substantial financial investment for SMEs

The transition to green technologies is tied to large-scale development and requires significant financial investment, Emil Majidov, Managing Partner at Rotas Consulting, said during the third day of Baku Climate Action Week, Report informs.

Majidov emphasized that the green agenda is a natural and necessary process that should be stimulated. "We should actively implement green technologies and gradually move away from inefficient, traditional solutions. However, this requires large investments, long-term and medium-term research, as well as significant human resources," he noted.

In such an environment, large corporations may gain an advantage over small and medium enterprises (SMEs), which could lead to their suppression, Majidov cautioned. To prevent this, government support is needed, including financial assistance for SMEs to adapt to the green transition, he added.

According to Majidov, a fair green transition requires special attention to small and medium-sized businesses that need support to maintain competitiveness in the face of global changes.