Chairman: Azerbaijan’s CBA adopts roadmap for sustainable finance

The Central Bank of Azerbaijan (CBA) has adopted a roadmap for sustainable finance within the framework of the 2022-2026 Socio-Economic Development Strategy, CBA Chairman Taleh Kazimov said at an event titled Global Financial System: Expanding Finance for Climate Action, organized within COP29 in Baku, Report informs.

"Within this framework, we will prepare a functional ecosystem for green finance, including data and regulation. We will ensure the transformation of business models and strategies by financial institutions into sustainable and green finance, and the roadmap will support the transition to low carbon emissions.

As you know, Azerbaijan's Nationally Determined Contributions (NDC) envisions a 40% reduction in emissions by 2025 compared to 1991," he noted.