Greek PM Mitsotakis Calls for "Smart Green Deal" at COP29 Summit in Baku
Greek PM Mitsotakis Calls for "Smart Green Deal" at COP29 Summit in Baku
Greek Prime Minister Kyriakos Mitsotakis on Wednesday urged European leaders to pursue a "smart green deal" at the COP29 summit in Baku, advocating for a balanced approach to the energy transition that takes into account both environmental and economic realities.
"Energy transition is at the heart of Greece’s agenda. We have cut our emissions by 45% since 2005. Previously, lignite accounted for over 50% of our electricity generation; today, its share is just 6%. Nearly half of our power now comes from wind and solar. We are insulating homes and developing a carbon capture supply chain for our industry," Mitsotakis said in his address.
The Greek premier stressed that while Europe advances its sustainability goals, it must address the challenges posed by high energy costs and emissions taxes, which he warned are undermining the competitiveness of European companies.
"We cannot drive ourselves into industrial oblivion," Mitsotakis cautioned.
Mitsotakis outlined four urgent priorities for Europe: recognizing the trade-offs in the energy transition, promoting regulatory flexibility, unifying the European energy market, and supporting the adaptation of industry to climate objectives.
"We need a smart green course. The EU requires regulatory reset and a focus on priorities, particularly by eliminating emissions where reductions are easiest to achieve. We need more technological solutions and increased investments in energy networks now, rather than waiting for the 2050 climate targets," the Greek leader emphasized.
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- Economics
- 13 November 2024 12:32
Economics
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On December 10, President Ilham Aliyev of Azerbaijan has signed a decree amending the 2014 presidential order on the management of the Shah Deniz Phase 2 gas-condensate field and Southern Gas Corridor (SGC) projects, granting the State Oil Company of Azerbaijan (SOCAR) expanded control to ensure financial consolidation.
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In the period from January to November 2024, Azerbaijan's exports not related to oil and gas increased by 1.9% compared to the same period in 2023, reaching a total value of $3.1 billion. This growth, noted in the latest "Export Survey" published by the Center for Analysis and Communication of Economic Reforms, reflects the country's diverse and expanding export portfolio.
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In a significant step towards fostering cashless transactions, Azerbaijan has extended its innovative "Return VAT" program to include real estate purchases. Between January and November 2024, citizens recovered 160.3 million manat through the program, marking a notable milestone in the government’s efforts to promote digital payments and enhance consumer benefits.
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Entrepreneurs operating in markets across Azerbaijan will be required to register for taxation. Failure to do so will result in a financial penalty of 2,000 manat for each unregistered entrepreneur, imposed on market owners or administrators. This requirement is included in proposed amendments to the Tax Code, set to be discussed in Parliament.
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