Turkey targets carbon neutrality by 2053, says Erdogan at COP29
Turkey aims to achieve carbon neutrality by 2053, transforming key sectors of its economy in line with a vision of "net-zero emissions and green development," President Recep Tayyip Erdogan announced at COP29 in Baku on Monday.
Erdogan said the country is already implementing its national "net-zero emissions" project, which has so far reduced atmospheric emissions by 5.9 million tons of carbon dioxide (CO2) equivalent.
“By 2030, this plan will cut CO2 emissions by 100 million tons, and the share of renewable energy in our economy will reach 59%,” Erdogan stated. He also highlighted that Turkey plans to expand its wind and solar power capacity from 31 GW to 120 GW by 2035. In the nuclear sector, the country aims to achieve a capacity of 20 GW by 2050.
Erdogan noted that the Turkish government will soon introduce a new climate bill to parliament, which includes a carbon trading system. He emphasized that Turkey aspires to become a regional hub for carbon credit trading, positioning itself as a leader in the field.
Economics
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Meat production in Azerbaijan increased to 491,400 tons in live weight from January to October 2024, up 1.2% compared to the same period last year, according to the State Statistics Committee. However, this growth, combined with a sharp rise in meat imports, has done little to stabilize high meat prices, which have been steadily climbing over the past 10 months, notes agricultural expert Vahid Maharramov.
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The International Bank of Azerbaijan (IBA) will hold an online shareholders' meeting on Dec. 13 to vote on increasing the bank's charter capital, approving a revised charter, and establishing a new innovative subsidiary, the bank said in a statement.
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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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