Azerbaijan to introduce its own system of carbon quotas

Azerbaijan to introduce its own system of carbon quotas shutterstock

Anna Velyka

The country is considering different pricing models

Azerbaijan is developing a national climate strategy, which should include the introduction of carbon credits to achieve emission reduction targets.

This was stated by Samira Musayeva, Deputy Head of the State Tax Service under the Ministry of Economy of Azerbaijan, at the roundtable discussion “Climate Change Mitigation and Market Mechanisms”.

She noted that one of the most effective tools in the fight against climate change is the introduction of carbon pricing. According to Musayeva, this tool not only promotes green growth, but is also an important mechanism for reducing greenhouse gas emissions.

The official also touched upon the issue of the Cross-Border Carbon Adjustment Mechanism (CBAM). She noted that it is aimed at reducing emissions, but raises many questions about its administration and practical implementation.

Samira Musaeva said that Azerbaijan is developing a national climate strategy. At the same time, experts are studying different ways of implementing carbon pricing and possible hybrid models that may include carbon taxes and emissions trading systems.

"We are learning and striving to adopt best practices, including market mechanisms. For example, several models provided for by the Kyoto Protocol and the Paris Agreement serve as guidelines for us when developing a pricing policy for carbon emissions," said the official.

According to her, Azerbaijan strives to create a system that will ensure a balance between economic growth and environmental protection.

In July, EcoPolitic told, that the US Congress made draft law on carbon emissions based on the example of the European CBAM. We also informed that China is accelerating transition to "green" steel, as CBAM is "looming".

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