‘Azerbaijan has experienced a remarkable economic transformation’

Azerbaijan aims for a significant reduction of greenhouse gas emissions by 40% by 2050, Azerbaijan’s Minister of Economy said at the G77 and China Leaders Summit in the framework of COP 25.

The minister noted that this includes the establishment of a green energy zone in the liberated Karabakh and Eastem Zangazur regions contributing to the implementation of the commitments on climate change.

He added that since the adoption of global initiatives, Azerbaijan has demonstrated a firm commitment to their universal promotion and the implementation of the climate inititatives and the 2030 Agenda.

“Over the last two decades, Azerbaijan has experienced a remarkable economic transformation, evidenced by a threefold increase in GDP. Notably, the country achieved a substantial reduction in poverty, dropping from 49% to an impressive 5%. Furthermore, Azerbaijan stands out globally with an exceptionally low extemal public debt, expected to be around 10% of GDP in 2023,” the minister added.

“The path to realizing a sustainable future is apparent, yet it presents challenges demanding our immediate and collective attention,” the minister said, adding that one notable challenge in pursuit of a green economy is the contamination of Azerbaijani lands resulting from extensive mine activities.

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