Azerbaijan may draft legislation on green bonds by end of 2024

Azerbaijan hopes to form legislation regulating green bonds by the end of 2024, said Chairman of the Central Bank of Azerbaijan (CBA) Taleh Kazimov during the Baku Climate Action Week on October 3, Report informs.

He noted that such securities will open up new opportunities for participants in the real sector to diversify financial flows.

Kazimov noted that banks unanimously and voluntarily took on financial obligations within the green bonds concept.

"This financial service will contribute to the 'green' transition in Azerbaijan, especially concerning households and small entrepreneurs," he said.

The CBA chairman also emphasized the importance of sustainable financing, including for supporting the green transition.