The British Embassy in Baku, the British Standards Institution, the British Chamber of Commerce Azerbaijan and BeZero Carbon join forces to support Azerbaijan’s Voluntary Carbon Market (AVCM)
A new awareness raising programme launched by the British Embassy in Baku aims to promote the development of voluntary carbon trading schemes in Azerbaijan.
2 opens seminars at the Landmark Hotel on 1-2 October 2024 will gather around 100 organisations and address the initial capacity development needs of private sector organisations seeking to adopt net zero principles, financial intermediaries, emission verification bodies, and quality infrastructure organisations that underpin the functionality and integrity of Azerbaijan’s carbon markets.
The development of voluntary carbon trading schemes in Azerbaijan is an opportunity to attract private sector investment, create jobs, introduce technological change, and support Azerbaijan’s climate action agenda.
AVCM’s launch event in Baku was attended by almost 40 organisations representing the spectrum of Azerbaijan’s carbon market stakeholders. The two-day event seeks to raise awareness and highlight developments to Azerbaijan’s carbon markets infrastructure, promote investment and financial intermediation opportunities, and facilitate stakeholder dialogue in the carbon crediting sector.
“Carbon markets create opportunities for investments in renewable energy, electric vehicles, carbon capture, and other green initiatives.. But to be a real game changer, we need carbon pricing and markets globally. That is why the UK is helping over thirty countries to price their emissions more ambitiously and to access carbon markets.”, said Edward Evans, Deputy Head of Mission at the British Embassy in Baku, Azerbaijan.
“BSI is delighted to be joining forces with the British Embassy in Baku and other stakeholders to launch AVCM initiative. The integration of climate action and private sector development programming is an opportunity to further economic development and support Azerbaijan’s transition to a low carbon economy. AVCM will offer specialised training programme and tailored capacity building support to both public and private sector organisations in helping realise Azerbaijan’s voluntary carbon credit potential”, said Volodymyr Yakubov, International Development Director, BSI.
Yana Slivka, Executive Director of the British Chamber of Commerce Azerbaijan said: “As the British Chamber of Commerce Azerbaijan, we are committed to supporting initiatives that enable businesses to take meaningful steps towards sustainability. The development of the AVCM provides a critical opportunity for the private sector to reduce its carbon footprint while fostering innovation and economic growth.”
John Patterson, Chairperson of the British Chamber of Commerce Azerbaijan also noted: “We believe that Azerbaijan’s business community is well-positioned to make significant strides toward a greener future. By embracing voluntary carbon markets, we unlock new avenues for investment and technological advancement, creating a foundation for long-term environmental and economic success.”
“Carbon markets are a key mechanism to channel climate action to where it’s needed most. To build carbon markets with integrity and transparency, we must foster collective action across the public and private sectors to create a supportive regulatory framework and integrate risk-based tools, like project-level carbon ratings. It’s a pleasure to support the ACVM initiative alongside the British Standards Institute, the British Embassy and the British Chamber of Commerce in Azerbaijan in their work to develop high-integrity carbon markets, and discuss the crucial role ratings play in assessing quality.”, said Lily Ginsberg-Keig, Policy Manager, BeZero Carbon.
