World Bank urges European and Central Asian countries for ecologization of economic growth
Azerbaijan, Baku, July 1 /Trend E. Aliyev/
The World Bank urges countries in European and Central Asian region for ecologization of the economic growth.
"The main components of the strategy to counteract climate change for the benefits of economic growth are energy efficiency, cleaner energy resources and natural resources management, but it is also noted that the greatest benefits will be provided through increasing energy efficiency," the World Bank report Growing Green: The Economic Benefits of Climate Action said.
In general, the European and Central Asian region which also includes Azerbaijan, largely depends on fossilised types of fuel and water which is the main source of renewable energy, the experts of the World Bank said, noting the importance of reducing emissions in electricity production.
"However, while the overall intensity of CO2 emissions remains stable, the individual indicators of countries in the region are different. With almost complete replacement of oil with natural gas as a source for electricity production in Azerbaijan in the years between 1992 and 2009 (from almost zero to 82 per cent), the intensity of carbon dioxide emissions decreased from 864 to 443 grams per kilowatt/hour. For comparison, 'Bosnia and Herzegovina and Turkmenistan have some of the most carbon-intensive energy sectors in the world with 776 grams per kilowatt /h and 789 grams per kilowatt/h respectively," the report of the World Bank said.
According to bank's experts, the reconstruction of the existing infrastructure is an economically effective way of improving the performance, increasing the production and reducing emissions.
"This work usually involves the reconstruction and modernisation of power generation capacities such as gas turbines and boilers, as well as operating and maintenance improvement. All of these can greatly increase the life and performance of power plants", the World Bank's report stated.