Climate change drives need for 'Green Economy' development, says Minister Jabbarov

Global climate change, dwindling natural resources, and rising demand necessitate the development of a "green economy," stated Azerbaijan's Economy Minister Mikayil Jabbarov during the "Role of Small and Medium Business in the Green Economy" conference in Baku, organized with the support of the Ministries of Economy, Ecology, and Natural Resources, and the Small and Medium Business Development Agency (SMB), Azernews reports.

"This, in turn, has become an important factor for the sustainable development of every country. It is no coincidence that one of the National Priorities defined by President Ilham Aliyev is 'Clean environment and green growth country," the Minister said. He noted that the government is actively implementing relevant measures as part of the 2022-2026 socio-economic development strategy.

Highlighting the significance of ongoing efforts, Jabbarov continued, "In the Year of Solidarity for a Green World and on the eve of COP29, important events of this kind are being held in our country. The current conference is a continuation of this and covers current issues." He emphasized the importance of increasing the application of environmentally friendly technologies, promoting "green" production, recycling, and restoring polluted areas.

"In short, we must achieve economic progress and increase social welfare based on the principle of protecting the environment," Jabbarov added, underscoring the crucial role of the private sector, particularly small and medium-sized businesses (SMEs). "The main goal of today's conference is to promote the green SME concept in the transition to a green economy," he concluded.