Green Economics

The main objective of this study is to scientifically analyze the mechanisms of the transition of the Azerbaijani economy from a “brown” model to a resource-efficient and low-carbon green economy model. The study refers to the econometric methodologies of Johansen co-integration and Autoregressive Distributed Lag, SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis and Multi-Criteria Decision Making models. The analysis shows that there is a direct correlation between Azerbaijan's industrial production and carbon emissions, which necessitates technological modernization. The Baku Agreement on Climate Finance reached within the framework of COP29 and the “Green Energy Zones” play a decisive role in the diversification of the country's non-oil sector. The article puts forward a 9-stage roadmap for the “greening” of the agro-industrial complex and scientific proposals for the application of green financial instruments.