2024-10-03 23:58:30
Azerbaijan is considering using carbon pricing to achieve emissions reduction targets.
As Day.Az reported on Thursday with reference to Trend, this was stated by the Deputy Head of the State Tax Service under the Ministry of Economy of Azerbaijan Samira Musaeva during a round table on “Carbon Emissions Reduction and Market Mechanisms” at ADA University as part of “Climate Action Weeks” in Baku.
“One of the most effective tools in the fight against climate change is the introduction of carbon pricing. This measure not only promotes green growth, but also provides a critical mechanism for reducing greenhouse gas emissions,” Musaeva emphasized.
She also addressed the issue of the Border Carbon Management Mechanism (BCAM), which aims to reduce emissions but raises many questions, especially in terms of administration and implementation.
“Azerbaijan is developing a national climate strategy, exploring different ways to integrate carbon prices and possible hybrid models that could include both carbon taxes and emissions trading systems. We are learning and striving to adapt best practices, including market mechanisms. For example, under the Kyoto Protocol and the Paris Agreement, there are several models that we focus on when developing our own carbon pricing policy. Our goal is to create a structure that will promote sustainable development, ensuring a balance between economic growth and environmental protection,” Musaeva noted.