The transition of small and medium-sized enterprises (SMEs) to a green economy and their potential contributions to the global fight against climate change were discussed.
At the conference, Minister of Economy Mikayil Jabbarov and Minister of Ecology and Natural Resources, Mukhtar Babayev—designated as the President of COP29—discussed the role of the green economy in sustainable development. They highlighted actions taken under the national priority of “A Clean Environment and a Country of Green Growth,” as outlined by President Ilham Aliyev. Key topics included the implementation of eco-friendly technologies, expansion of green production, encouragement of recycling, and rehabilitation of polluted areas.
At the event, Minister of Economy Mikayil Jabbarov and Minister of Ecology and Natural Resources, Mukhtar Babayev—designated as the President of COP29—spoke about the role of the green economy in sustainable development. They discussed initiatives undertaken to advance the national priority “A Clean Environment and a Country of Green Growth,” as established by President Ilham Aliyev. Key points included the implementation of eco-friendly technologies, the expansion of green production, the promotion of recycling, and the rehabilitation of polluted areas.
It was noted that SMEs are playing an increasingly significant role in Azerbaijan's socio-economic development, contributing greatly to GDP growth, employment, and the economic reintegration of liberated territories. In the new phase, SMEs are also expected to make their mark in the development of the green economy. Expectations from SMEs in this regard include the adoption of energy-saving technologies, achieving energy efficiency through the use of renewable energy sources, recycling and reducing waste, using environmentally friendly materials, actively participating in social projects, and producing eco-friendly products and services. Speakers at the conference included UN Climate Change High-Level Champion Nigar Arpadarai, Chairman of the Board of KOBIA Orkhan Mammadov, Executive Director of Azerbaijan's Export and Investment Promotion Agency (AZPROMO) Yusif Abdullayev, and Chairman of the Board of the World Climate Foundation Jens Nielsen.
The green transformation of SMEs is achievable through the joint efforts of stakeholders at both national and global levels. Arising from this necessity, KOBIA has launched a global initiative to support the green transition of SMEs, which has been formalized in the Baku Coalition Declaration for SMEs’ Green Climate Transition. During the event, this declaration was presented to the President of COP29.
At the event, a Memorandum of Understanding was signed between SMBDA and ACWA Power Azerbaijan Renewable Energy LLC regarding cooperation on the green transition of SMEs. The document, signed by Orkhan Mammadov, Chairman of KOBIA, and Selim Guven, Director of ACWA Power Azerbaijan Renewable Energy LLC, outlines joint cooperative measures aimed at supporting the transition of small and medium-sized enterprises to a green economy.
At the conference, SMBDA was awarded a certificate by the United Nations Global Compact in recognition of its active participation in promoting a culture of corporate sustainability.
The event continued with panel sessions on the topics “The Necessity of SMEs' Transition to a Green Economy” and “Climate Finance and SMEs.”
