Current state and prospects for the development of the green economy of Azerbaijan

Abstract

In recent years, the green economy and sustainable development have become major issues of particular concern to economists. The green economy is considered the most reliable model of sustainable development. The widespread application of the concept of “green” economy from the point of view of improving the standard of living and social well-being of the population is one of the most important tasks of the present and future. In this regard, one of the important issues is the development and implementation of governmental programs containing the concept of a “green” economy. It involves finding the new, environmentally friendly sources of energy to start the economic “engine”. The concept of sustainable development includes the creation of “green” jobs, rational use of natural resources, production of environmentally friendly products, the use of harmless and low-waste fuels, and a sustainable increase in the standard of living and well-being of the population. In the article, the author examines in detail the current situation in the world and in the Republic of Azerbaijan, as well as the efforts made by its government to achieve sustainable development based on a green economy. The main goal of the study is to assess the role of the green economy in sustainable development.