12:51 - 22.02.2023

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February 22, Fineko/abc.az. The decision of the Board of the Central Bank of Azerbaijan (CBA) has approved the Roadmap on Sustainable Finance for 2023-2026 to ensure sustainable transformation of the financial sector.

ABC.AZ reports that the purpose of the roadmap is to ensure the resilience of financial institutions to the risks arising from climate change and other ESI factors (environmental, social and managerial), as well as realization of opportunities associated with transition to sustainable economy.

The roadmap has been developed taking into account international best practices and includes measures to integrate climate change and ESI criteria into the framework of regulation and control of the financial sector, including the integration of financial institutions (banking, insurance and capital market participants) into strategic decision-making and risk management processes, the formation of appropriate market standards in this area and the formation of an ecosystem sustainable financial instruments.

The document "Roadmap for Sustainable Financing" can be found at the following link: https://uploads.cbar.az/assets/dc1546b51b6aa6b3d92409836.pdf