BAKU, Azerbaijan, December 7. 'Green' transition opens up opportunities for diversification of Azerbaijan's economy, Senior Environmental Specialist at World Bank (WB) Group Sascha Eichberger said on December 7 during the presentation of the ‘Azerbaijan: Towards Green Growth’ report in Baku, Trend reports.
According to Eichberger, one of the main tasks of the World Bank in cooperation with Azerbaijan is to support the country on its way to a ‘green’ transition.
"In the ‘Azerbaijan: Towards Green Growth’ report, we analyzed the effects of climate change and other factors, and provided recommendations for Azerbaijan's successful ‘green’ transition," he noted.
Eichberger stressed that Azerbaijan has achieved success in oil and gas exploration, and the country's non-oil industry continues to develop.
Speaking about the future, he said that low-carbon hydrogen can play an important role in Azerbaijan's future development.
Besides, Eichberger stressed that exploring the possibilities of the ‘blue’ economy in the Caspian Sea will also require additional research.