Taleh Kazimov: "Green taxonomy" to provide sustainable foundation for green transition in Azerbaijan

The "Green taxonomy," approved recently by the Central Bank of Azerbaijan (CBA), will become an important foundation for the country's green energy transition, CBA Chairman Taleh Kazimov said at the event "Global Financial System: Expanding Climate Action Financing," organized within the framework of COP29 in Baku.

According to him, the document reflects Azerbaijan's high-level political commitment to green financing.

Ministries, financial associations, and international financial organizations participated in developing the initiative, Kazimov said.

He expressed gratitude to the World Bank for technical support and emphasized that climate goals in the banking sector will help develop green and sustainable financing in Azerbaijan's economy.