Sustainable Finance report may be required as supporting document for large-scale projects in Azerbaijan

The Central Bank of Azerbaijan (CBA) is working on developing a sustainable finance reporting framework for banks, the CBA said in response to Report's inquiry.

According to the bank, if large-scale projects, financed by banks and noted as "green credit" in reports submitted to the Central Bank, implemented in Azerbaijan taking into account climate changes, then a sustainable finance report may be required as a supporting document.

"One of the CBA's authorities is to supervise credit institutions. Currently, there are no requirements for banks to submit reports on sustainable finance to the Central Bank, however, the CBA continues to work on developing an appropriate reporting framework," reads the statement.