Minister: Decarbonization And Transition To Alternative Energy Will Be Supported By Comprehensive Tax Policy
Date
9/25/2024 5:19:00 AM
(MENAFN- AzerNews)
Nazrin Abdul
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Taking into account global climate change, the government of
Azerbaijan supports the transition to a circular economy, the
implementation of clean technologies, the Promotion of clean energy
sources, recycling, and projects related to the cleanup of polluted
areas. This process will continue.
Economy Minister Mikayil Jabbarov stated this at the
international conference on carbon assessment organized by the
State Tax Service in Baku, Azernews reports.
He noted that the "green projects" of entrepreneurs are
supported by preferential loans, grants, and "Startup"
certificates. "We believe that if we continue our efforts at
today's level, we will be able to achieve our goals faster," he
said.
"Steps have been taken regarding the application of the concepts
of 'smart city,' 'smart village,' and 'green energy zone' in our
lands freed from occupation, as well as the establishment of
foreign-invested enterprises focused on greening and
decarbonization in these areas. We are also actively developing our
hydropower potential in Garabagh and Eastern Zangezur. Through the
29th session of the Conference of the Parties to the UN Framework
Convention on Climate Change (COP29), we aim to inform interested
parties about the projects being implemented in the Garabagh and
Eastern Zangezur economic regions. Our priority is to develop the
liberated territories from a gray zone to a 'green energy' zone and
to transform the Caspian Sea into a center for the production and
export of 'green energy,'" the minister added.
At the same time, he highlighted that carbon assessment in
Azerbaijan will include state support measures for business
development.
"It is planned to involve small and medium-sized businesses in
the carbon assessment process, supporting their growth and
reinvesting the funds collected from carbon taxes into business
development. The process of decarbonization and the transition to
alternative energy in our country will be supported by all means,
including tax policy," he stated.
"Our tax policy is a crucial link in economic and political
processes, and this effective tool will play a significant role in
attracting private investments, combating climate change, and
expanding the use of green technologies. The State Tax Service is
studying leading international practices to determine the scope of
ecological and green taxes. Azerbaijan's measures for the green
transition are not limited to our country; our goal is to implement
several regional and even global initiatives. We must evaluate at
least the regional implementation of these projects, and we should
not undertake this process alone; we must collaborate with
international partners," the minister concluded.
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