Description:
The Azerbaijan Country Climate and Development Report assesses how the country can reduce its vulnerability to climate shocks and the risks emerging from the global low-carbon transition while protecting the living standards of its people and reaping opportunities of a new climate economy. It argues that regardless of the pace of global mitigation efforts, decarbonization is in Azerbaijan's economic self-interest. It highlights that the country faces considerable risks from future physical climate impacts potentially disrupting its sectors like agriculture and others. Finally, the report shows that climate action is affordable if supported by the right set of policies - some of which are already envisaged by the country's 2022-2026 Socio-economic Development Strategy but not yet implemented like a phase-out of fossil fuels subsidies - aimed at catalyzing private sector investment in decarbonization and resilience."