In Azerbaijan, green bonds could become a new source of financing for banks and a novel financial tool for investors interested in ecological projects, Zakir Nuriyev, chairman of the Azerbaijan Banks Association Public Union (ABA), said on the fourth day of the Baku Climate Action Week, Report informs.
"Currently, as the ABA, we are working towards the issuance of green bonds, collaborating with member banks, and fostering sector-wide cooperation. To this end, expert groups have been established within the Association in various areas. The ESG (Environmental, social, and governance) and sustainable banking expert group is the latest initiative in this regard. In general, the capital market is one of the pathways to enhance the financing capabilities of banks," he said.