COP29 marks milestone with launch of "Green Growth Portal" to advance global green innovation

On November 15, 2024, Baku hosted the launch of the global "Green Growth Portal" during the COP29 summit, a collaborative initiative developed through a partnership between Azerbaijan’s Ministry of Economy and Harvard University’s Centre for International Development, known as "Growth Lab". 

At the presentation, Azerbaijan’s Economy Minister Mikail Jabbarov highlighted the portal’s crucial role in driving global cooperation for sustainable development, Caliber.Az reports citing Azerbaijan's Economy Ministry.

He explained that the Green Growth Portal will help countries align their green transition strategies with robust, research-based insights, enabling participants in the global energy transition to identify and leverage green growth opportunities specific to their national contexts.

Kanan Najafov, Vice President of SOCAR (State Oil Company of Azerbaijan Republic), also took the stage to share the company’s commitment to achieving "net zero" emissions. He outlined SOCAR’s ongoing decarbonisation efforts, energy transition initiatives, and the implementation of low-carbon solutions, emphasizing that the new portal will play a pivotal role in SOCAR’s energy transformation journey.

A video message from Ricardo Hausmann, founder and director of the "Growth Lab" at Harvard University, underscored the importance of reducing carbon emissions and accelerating the transition to renewable energy to combat global climate change. Hausmann noted that the Green Growth Portal is designed to systematize the supply chains of green technologies and solutions, thereby maximizing the economic benefits of transitioning to a sustainable, green economy.

Tim Cheston, Chief Research Manager at the "Growth Lab", provided a detailed overview of the portal’s functionalities. Set to be integrated into Harvard’s Atlas of Economic Complexity — a resource that covers 250 countries and regions and serves over 1.7 million users — the Green Growth Portal will feature analyses, comparative databases, and information from international organizations and governments. This resource will serve as a vital tool for understanding the complexities of the green economy and identifying actionable opportunities for sustainable growth.

Expected to be fully operational by 2025, the portal will be freely accessible to users around the world, facilitating the exchange of knowledge and fostering innovation in green technologies.

The event saw a diverse audience, including government officials, private sector representatives, international organizations, business associations, academia, and financial institutions. Attendees engaged in lively discussions and exchanged valuable insights on how to maximize the potential of the "Green Growth Portal" in advancing global sustainability goals.

By Tamilla Hasanova