Baku: Azerbaijan's Ministry of Finance has announced the allocation of significant funds for climate change-related expenditures in the 2024 state budget.

According to Azeri-Press News Agency, the budget under the 'Environmental Protection' category has earmarked 339.7 million manats for climate initiatives. Of this, 297 million manats, or 87.4%, are designated as mixed or neutral expenditures, which can have varying impacts based on environmental criteria, while 42.7 million manats, or 12.6%, are specifically identified as green expenditures.

Additionally, the 'Agriculture' sector has been allocated 1,075.2 million manats for climate change-related activities, all of which are classified as mixed expenditures. The combined climate change-related spending in the 'Environmental Protection' and 'Agriculture' sectors for 2024 totals 1,414.9 million manats, with 1,395.2 million manats dedicated to adaptation measures and 19 million manats assigned to mitigation measures.

Sustainable Development Goal (SDG) related expenditures in the 'Education', 'Agriculture', and 'Environmental Protection' sectors amount to 5,773.4 million manats for 2024, reflecting Azerbaijan's commitment to integrating sustainability across various sectors.