Samira Musayeva: Climate change cut 1.3% from global GDP over past decade

Over the past ten years, major climate disasters driven by climate change have resulted in global economic losses equivalent to 1.3% of the world's GDP, Samira Musayeva, Deputy Head of the State Tax Service (STS) under the Azerbaijani Ministry of Economy, during the 13th International Caspian Energy Forum 2025 held in Baku.

She noted that the consequences of climate change and the release of greenhouse gases into the atmosphere not only pose global threats but also lead to inefficient use of economic resources: "This creates serious risks to countries' economic and food security, as well as to the long-term sustainable development of industry."

Musayeva emphasized that Azerbaijan, as the host country of COP29, has already conveyed its commitment to green economy and green energy to the global community: "For us, this topic is not only relevant within the year of hosting COP, but also a medium-term priority in shaping the country's economic development strategy. Transitioning to a green economy and promoting energy efficiency among entrepreneurs are key considerations."