Minister: Azerbaijan's development concept prioritizes transition to green economy

The transition to a green economy, a key component of sustainable development, holds a crucial place in Azerbaijan's development concept based on socio-economic reforms, according to Mukhtar Babayev, COP29 President-designate and Azerbaijan’s Minister of Ecology and Natural Resources, Report informs.

Speaking at the conference titled "The Role of Small and Medium Businesses in the Green Economy," organized by the Small and Medium Business Development Agency (KOBIA) with support from the ministries of Economy and Ecology and Natural Resources, Babayev highlighted Azerbaijan's significant strides towards a green economy in recent years.

"In line with the UN's Sustainable Development Goals, our country has made substantial progress in expanding renewable energy sources, energy efficiency, and the development of a circular economy. The National Priorities document, which provides a vision until 2030, identifies sustainable development and environmental protection as key objectives," he noted.

The minister explained that the document outlines specific ecological goals, such as accelerating Azerbaijan's transition to a green economy, efficient management of natural resources, reducing carbon emissions, adapting to climate change, and increasing energy efficiency.

Babayev emphasized the vital role of small and medium businesses (SMEs) in driving the green economic transition: “According to UN statistics, SMEs account for 70% of global employment and play a crucial role in creating jobs for women, youth, and vulnerable groups. Their activities also contribute significantly to global carbon emissions, making the improvement of their ecological performance a substantial potential in combating climate change. In line with the 12th Sustainable Development Goal, ‘Responsible Consumption and Production,’ the use of clean and efficient production methods promotes more responsible resource use and reduces environmental risks.”

"Transitioning to an economically sustainable, clean, and healthy future is one of the most pressing challenges today and a great responsibility we face as a society," Babayev added, underscoring the importance of shifting to a green economy to achieve sustainable development amidst environmental pollution, depleting natural resources, and increasing demand.