Baku:Azerbaijan has officially approved its “Long-Term Low-Carbon Development Strategy,” as reported by APA. Prime Minister Ali Asadov has signed off on this significant decision.
According to Azeri-Press news agency, the Ministry of Economy is tasked with integrating decarbonization measures across various sectors of Azerbaijan’s national economy. This will be done through the incorporation of these measures into state programs, strategies, national action plans, and other relevant documents, in collaboration with pertinent institutions.
The Ministry of Finance has been directed to ensure the funding of these decarbonization measures, taking into account specific provisions outlined in the decision. The ultimate goal of the strategy is to achieve “net-zero emissions” by 2060. However, this target is conditional and relies on the mobilization of additional financial resources, including international cooperation, financial support, technology transfer, concessional loans, and investments from the private sector.