BAKU, Azerbaijan, November 2. Azerbaijan has a potential to become world leader in "green" transformation, World Bank (WB) Regional Manager for Azerbaijan Sara Michael said during the event on "Green transformation in Azerbaijan: Sustainable Development Goals", Trend reports on November 2.
"Azerbaijan has shown significant economic growth in recent years. However, climate change creates new challenges. At the same time, Azerbaijan is on the right track for a "green" transition and has the prospect of becoming a world leader in this direction," she said.
According to Michael, the WB published a report,on the assessment of "green" growth in Azerbaijan, which noted a high potential in the development of blue economy, particularly, in the areas of biotechnology and bioeconomy, offshore renewable energy, including offshore wind power, floating solar photovoltaic plants, and many other opportunities. In addition, the report refers to the transport potential of Azerbaijan and other aspects.
"The World Bank will present new flagship report on the transition to low carbon in Azerbaijan. Azerbaijan is among the countries, where the WB will present such a report for the first time," she added.