Vugar Gulmammadov: Best practices in climate finance, green budgeting limited

Despite the growing popularity of concepts like climate finance and green budgeting in public financial management, the number of samples that can be cited as best practices in this field remains limited, Chairman of the Chamber of Accounts of Azerbaijan Vugar Gulmammadov said, Report informs.

Speaking at the annual meeting of the Working Group on Environmental Auditing (WGEA) of the European Organization of Supreme Audit Institutions (EUROSAI) held in Baku, Gulmammadov highlighted that 75% of Azerbaijan's freshwater resources originate from transboundary waters formed outside the country.

"Drought and water use by neighboring countries cause a decrease in the resources of transboundary rivers by the time they reach the territory of Azerbaijan," he noted.

The chairman further stated that the pollution of rivers beyond the permissible norms before reaching Azerbaijan not only has greater negative impacts on the environment but also requires additional time and resources to adapt these waters for household and agricultural purposes.

"It is crucial to have a strategic management framework in the field of environment, including climate activity, and for the public financial management (PFM) system to take into account the climate problem, Gulmammadov emphasized.