On November 16, Director of the Agrarian Research Center Rashad Huseynov participated in the Global Think Tanks Forum organized by the Center for Economic Reform Analysis and Communication (CERAC) in collaboration with the Asian Development Bank (ADB), the Asian Development Bank Institute (ADBI), and the Central Asia Regional Economic Cooperation Program Institute (CAREC Institute). The Director of the Center spoke at the session “Green Finance for Global Climate Resilience: Strategies and Innovations” of the Forum entitled “Global Green Economy: Climate Action, Financing and Innovation” and spoke about the issues of applying green financing in agriculture.

The Director drew attention to the principles of transition to “green subsidies” and said that starting next year, a differential approach to providing subsidies is planned to be applied in our country. According to this approach, farmers using pivot irrigation will receive higher subsidies than farmers using other irrigation methods.

This session generally discussed issues such as green bonds, sustainable investment mechanisms and the contribution of the financial sector to climate goals.

The forum was attended by representatives of the most influential think tanks globally, including the T20 network, scientists, government officials, private sector representatives, NGOs and other stakeholders.

The green economy model - a model of ensuring sustainable development by harmonizing economic development with environmental protection - was an important subject of discussion within the framework of the forum. Forum participants emphasized the importance of reducing carbon emissions, expanding renewable energy sources, implementing green financial mechanisms and measures to adapt to climate change.

The Global Think Tanks Forum aims to contribute to a better understanding of the impacts of climate change and promoting measures that support the implementation of the Paris Agreement by promoting dialogue between countries. The forum made a significant contribution to increasing Azerbaijan's prestige in the global arena within the framework of COP29 and strengthening the country's strategic position within the network of international think tanks.