Implementation of the Green Economy in Azerbaijan

Abstract

This paper explores how Azerbaijan has adopted and applied the principles of a green economy as one of the central drivers of modern global economic transformation. Within the framework of accelerating green development, it evaluates future projections for the oil and gas sector between 2010 and 2040. The analysis focuses on distinguishing long-term and short-term trends influenced by external and internal factors that shape the industry’s evolution. Moreover, the paper investigates the strategic directions available for the petroleum sector in a period when green transformation becomes a national priority. The primary aim is to determine integrated strategic models and policies that can promote an efficient and sustainable transition toward a green economy in Azerbaijan, a country where hydrocarbons still play a major role. A SWOT analysis was employed to examine the sector’s strengths, weaknesses, opportunities, and threats. Concepts of green growth, the green economy, and sustainable development models were discussed comprehensively. The research drew on relevant academic sources and official documents. It concludes that all sectors, particularly energy should align with green economy standards to guarantee sustainable development and continuity in this direction. Consequently, the integrated framework of green growth and sustainable development provides promising prospects for Azerbaijan’s future progress.