Green Economic Potential of Baku and Absheron-Khizi Economic Regions of Azerbaijan

The changing geopolitical and environmental situation in the world forced many countries and businesses to adapt and develop new economic concepts. By combining economic sustainability and virtually continuous economic development in itself, the term "green economy" has become popular during the ongoing "crisis of the 2020s" among governments, businesses, think tanks, and economists. Azerbaijan, being part of the global economic and political network, is also affected by the socioeconomic turmoil of the third decade of the 21st century. Many roadmaps, presidential decrees, and draft law acts have been passed in order to maintain the continuous development of the country and diversify its economy. Green economy is a new subject in the economic history of Azerbaijan. Currently, the terms green economy and sustainable development are applied to two economic regions in Azerbaijan, which consist of former uncontrolled areas due to war. However, the ongoing success of "green" economic applications in those regions can pave the way for the remaining economic regions of Azerbaijan to obtain green growth. Research has been applied to the potential applications of green economy in the Baku and AbsheronKhizi economic regions of Azerbaijan. Climate change and pollution have considerable effects on the ecology of Azerbaijan, and consequently, these two regions have been greatly affected by the massive concentration of people and intensive industrialization of these areas.