Deutsche Bundesbank: Sustainable finance important for socio-economic development

Sustainable financing is important not only for climate but also for socio-economic development, Sabine Mauderer, vice president of the German Federal Bank (Deutsche Bundesbank), said at the event "Sustainable Finance Initiatives Beyond Climate and Achieving SDGs" within COP29 in Baku, Report informs.

She emphasized that sustainable finance initiatives are not limited to climate issues only but also play an important role in socio-economic spheres for achieving UN Sustainable Development Goals (SDGs).

Mauderer added that Deutsche Bundesbank's sustainable finance initiatives are not only related to clean energy but also emphasize the importance of investments in social infrastructure projects: "Our goal is to support sustainable development not only in environmental spheres but also in areas of social justice and economic equality. Global cooperation is fundamental in implementing sustainable finance initiatives. We want to ensure all countries join these initiatives, working together to build a more sustainable and equitable future."