Green fiscal policy andsustainable development in international practice and in Azerbaijan
DOI:
https://doi.org/10.69760/gsrh.0250203019Keywords:
green fiscal policy, sustainable development, carbon pricing, green budgeting, renewable energy sources, climate finance, AzerbaijanAbstract
The article examines the concept and instruments of green fiscal policy (GFP) as a key avenue for sustainable development. It analyzes international practices in carbon pricing, green budgeting, fossil-fuel subsidy reform, climate finance, and the issuance of green bonds. Special attention is given to the outcomes of COP29 in Baku and their impact on shaping the global climate agenda. Based on an analysis of Azerbaijan’s strategic documents (“Azerbaijan-2030” and the updated Nationally Determined Contribution) and concrete steps (the commissioning of the Garadagh solar power plant, SOCAR’s issuance of green bonds, and tax-and-customs incentives for renewable energy sources), the article assesses the possibilities for adapting international experience to national conditions. It concludes that comprehensive integration of GFP principles into the country’s budgetary and tax systems is necessary to achieve long-term “green” growth and fulfill international climate commitments.
References
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