COP29: Interactive portal to boost green energy transition and market growth

On November 27, 2024, the primary version of the global "Green Growth Portal" was launched within COP29. 

This initiative, developed through collaboration between the Ministry of Economy and Harvard University’s International Development Centre "Growth Lab," is designed to support the global energy transition.

The portal aims to provide vital information for countries and investors involved in the transition to green energy, the Ministry of Economy’s press service told Caliber.Az.

By offering an interactive tool, it helps countries improve their strategies for adopting green energy, showcasing opportunities for developing new industries, markets, and economic sectors.

The portal includes a comprehensive data set spanning 10 years on the green value chain. This data covers key sectors such as batteries, basic minerals, power grids, electric vehicles, green hydrogen, heat pumps, hydroelectricity, nuclear, solar, and wind energy products. The portal also provides strategic perspectives for over 140 countries. A feature of the portal is an atlas that illustrates the connections between different green value chain products, enabling users to identify and seize opportunities for creating the necessary funding for decarbonisation.

By using the portal, users can evaluate a country’s position within each value chain and its level of economic competitiveness. They can also compare a country’s standing against the expected and average international price of a product. The portal offers feasibility studies and assesses the attractiveness of various products, analyzing a country’s potential to enter green value chains. It also provides information on existing markets, efficient exporters, and the growth prospects for green value chain products.

The portal is designed to help countries and investors seeking to meet the rising demand for green technologies by analyzing how well their production capabilities align with the green value chain. It is based on the Harvard Atlas of Economic Complexity, which spans 250 countries and economic regions and serves 2 million users.

While the portal will be fully operational in 2025, it is already accessible, offering analyses, comparative databases, and green growth strategies based on data from international organisations and countries. The portal’s use is free of charge.

In a video message, Professor Ricardo Hausmann, the founder and director of the "Growth Lab" at Harvard University, shares insights about the portal’s significance and its potential to facilitate the global green transition.

By Tamilla Hasanova