On December 15, Azerbaijan's Ministry of Finance held the first meeting of the Working Group established to prepare the framework for the issuance of sovereign green bonds, Report informs, citing the ministry.
The meeting was attended by senior officials and responsible representatives of the ministry and its relevant departments.
At the meeting, the head of the Working Group, First Deputy Minister of Finance Anar Karimov, spoke about measures being implemented to strengthen environmental sustainability, mitigate the impacts of climate change, and expand the use of green financing tools.
Karimov emphasized that the formation of green finance infrastructure in Azerbaijan will create the foundation for the future issuance of sovereign green bonds.
During the meeting, international experiences on the framework for the emission of green bonds were in the spotlight, and an exchange of views was held regarding the application of this initiative in Azerbaijan as well. Experts engaged by the Asian Development Bank reviewed the stages and main activities for the emission of sovereign green bonds.
The Working Group was tasked with preparing a draft framework document for the issuance of sovereign green bonds and defining criteria for selecting environmental projects to be financed through these bonds.