WB: Annual environmental damage in the South Caucasus countries is estimated at $100 million
WB: Annual environmental damage in the South Caucasus countries is estimated at $100 million
At the COP29 event titled "Climate Finance Landscape in the South Caucasus and Central Asia" held on November 14, Roland Price, Regional Director of the World Bank for the South Caucasus, highlighted the substantial economic and environmental damage faced by the countries of the South Caucasus, which she estimated at around $100 million annually.
Price noted that addressing the region's challenges requires not only financial investments but also skilled human resources. “In many municipalities, securing financial resources for green initiatives is difficult, and there is a shortage of qualified specialists. Grant programs need to be implemented in the South Caucasus to address these gaps,” Price stated.
Touching upon the decarbonization process in the region, Price pointed out the underutilization of renewable energy (RE) sources, particularly for heating buildings and powering transportation. "As the World Bank, we are supporting the diversification of South Caucasus economies and the implementation of decarbonization projects. This aligns with both the economic interests and a sustainable future for the countries in the region," she added.
Economics
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Azerbaijan’s Minister of Economy, Mikayil Jabbarov, participated in the "Circle of Leaders: Financing the Energy Transition - New Horizons" session during the World Economic Forum (WEF) in Davos, emphasizing the country’s strategic role in global energy security and its green energy transition initiatives.
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Around 200 employees of SOCAR, Azerbaijan's state oil company, staged a strike in Batumi, Georgia, on January 21,demanding wage increases, local outlet Batumelebi reported. Participants included technicians and staff from various departments who argued that their long-standing minimal salaries fail to reflect their workload.
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On January 21, during a meeting in Davos, Azerbaijani President Ilham Aliyev met with Henrik Poulsen, Chairman of the Supervisory Board of Carlsberg Group, and Jacob Aarup-Andersen, the company's CEO. The discussions emphasized Carlsberg Group's expanding presence in Azerbaijan and its commitment to developing local production and sustainability.
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In 2024, Azerbaijan's "Single Window" Export Support Center processed 1,747 requests from businesses and individuals, facilitating the issuance of 3,982 export certificates. According to Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communications, these efforts supported export operations valued at USD 288.2 million.
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