Some 24% of global carbon emissions are currently covered by some form of carbon pricing, Samira Musayeva, Deputy Head of the State Tax Service, said at the conference themed “The Role of Small and Medium Businesses in the Green Economy” held in Baku, Report informs.

“While this figure may seem low, it represents a significant increase from just 7% a decade ago, highlighting the growing popularity of carbon pricing as a tool to achieve emission reduction targets among nations,” Musayeva said.