Page 67 - Azerbaijan State University of Economics

E.Ahmadov: Azerbaijan from innovative governance to green economy

Founder of IDEA Mrs. Leyla Aliyeva as pointed out ―the future depends on how we
live today. This is a reality that needs to be embraced by younger generations across
the globe. We need to take responsibility for our environment and admit that our
actions today are the seeds we saw that will bear the fruits to be reaped tomorrow. It
is time to sum up the achievements of the recent year, plan for tomorrow and unite

for one earth, one future‖ [2, 2].
2. How the knowledge community affects an economic performance
Promoting the wellbeing of current and future generations is the central
objective of sustainable development. Sustainable Development is a pattern of
economic development in which resource use aims to meet human needs while
preserving the environment so that these needs can be met not only in the present,
but also for generations to come. Sustained social development, the reduction of
poverty, a rise in living standards and improvements in wellbeing is not possible
without economic development an increase in the production of goods and services
and economic development cannot be decoupled from environmental change. The
production and provision of all goods and services implies a transformation,
degradation and depletion of natural resources. Effective use of energy resources is
essential for sustainable development and there are various methods used in
evaluating whether these resources are used. One of the widely proven methods for
measuring the efficient use of resources is the index showing the consumption of
energy needed to produce gross domestic product (GDP) [4, 133]. From 2003-
2013, GDP per unit of energy in Azerbaijan is increased by more than 3 times.
(See figure 1). In terms of these indicators, Azerbaijan demonstrates high
performance in par with the developed countries. Managing natural resources to
aid in the transition to sustainable development involves more than just extensive
education at all levels. A sustainable nexus between social, economic and
environmental development will not only require a more balanced distribution of
economic resources, but also a shift towards green economies, characterized by
sustainable patterns of consumption and production.

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