CBA: There are opportunities for financial sector in context of climate financing

There are challenges and opportunities for the financial sector in the context of climate financing, Taleh Kazimov, the Chairman of the Central Bank of Azerbaijan (CBA), said on the 4th day of Baku Climate Action Week, Report informs.

"Despite existing risks, new opportunities for growth and development have emerged. Current events, as well as meetings to be held within the framework of COP29, help achieve important goals in the fight against climate change," Kazimov stated.

He emphasized the importance of Climate Week in providing the necessary platform for discussion and search for solutions. "This platform opens up wide opportunities to achieve sustainable development goals," Kazimov noted and added that despite current challenges, the financial sector has great potential for innovation in the field of climate financing.

The CBA chairman believes that the event in Baku has been an important platform for exchanging experiences and developing strategies that help financial institutions adapt to global climate changes.