Central bank official: Banking sector to "green" 10% of loan portfolio in next 6 years

Azerbaijan's banking sector will "green" about 10% of its loan portfolio within 6 years, Director General of the Central Bank of Azerbaijan (CBA) Shahin Mahmudzada said at an event dedicated to measuring climate risks within the framework of COP29.

According to Report, he noted that starting next year, certain requirements for information disclosure standards and banks' reporting system will be introduced.

"Additionally, we are considering 'greening' our monetary policy and introducing mandatory green insurance products," he said.