Economic and Political Crossroads: Azerbaijan’s Path Forward in the Face of Declining Oil Wealth

On November 7, 2024, a decree by the President of the Republic of Azerbaijan led to the creation of a new transport and communications holding company, AZCON. The President explained this decision as a necessity for a "flexible management system that meets modern requirements to improve the operations of state enterprises in the transport and communications sector, enhance their economic efficiency, and increase contributions to the state budget."

Azerbaijan plans to present its third document on its Nationally Determined Contribution (NDC 3.0) to reduce greenhouse gas emissions at the 29th Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change. The goal is to help achieve the global target of limiting temperature rise to 1.5 degrees Celsius and adapting to the consequences of climate change.

With only days remaining until the 29th session of the United Nations Framework Convention on Climate Change (COP29), starting on November 11 in Baku, around 40,000 delegates from over a hundred countries are expected to attend. This event, running through November 22, marks an unprecedented responsibility for Azerbaijan, which holds the COP29 presidency, as the session will address issues of global significance.

The risks of pollution of transboundary rivers in Karabakh by Armenian mining companies continue to worry the public of our country. How justified is this concern? Here are a number of reasons/factors that clearly explain the concern of the Azerbaijani public: