On 22 November 2023, Baku was the host of an instructive one-day training on crafting Resource Efficient and Cleaner Production (RECP) business plans. The online event was organised with the support of the European Union-funded EU4Environment programme. Around 50 participants tuned in to learn how to design and prepare RECP business plans.
The event helped the Azerbaijani enterprises engaged within UNIDO’s RECP Demonstration Project understand how to write a business plan to strengthen their position when applying for green financing in the country and abroad. By understanding the principles and potential benefits of a business plan, enterprises can also promote a green and Circular Economy through the application of the RECP methodology.
The key speakers kicked off with the technical process, starting with the business idea and consolidating knowledge through dedicated templates on RECP and its advantages. This was then followed by an exercise on drafting a collective business plan. During the dedicated session, topics such as investment estimations, the development of financial ratios, and the design of the RECP implementation plan were also explained and discussed. Moreover, the topics of bankability and access to finance were addressed during the training’s questions and answer session.
Overall, the online training helped the participants understand the importance of having RECP business plans by tackling its benefits, assumptions, and expectations, as well as issues related to investment, the development of cash flow, profit and loss projections, financial ratios, and steps needed to prepare an implementation plan. These topics were easier to absorb thanks to the training’s interactive and collaborative format. 93 participants registered for the training, tuning in from Armenia, Austria, Azerbaijan, Georgia, Moldova, Norway, Ukraine, and the USA. Overall, 42% participants were women, and 58%, men.