10:50 - 18.10.2024

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October 18, Fineko/abc.az. Global climate change is having impact on the economy of Azerbaijan.

ABC.AZ reports quoting Central Bank of Azerbaijan’s chairman Taleh Kazimov as saying this during the forum on the theme "Green Finance & Sustainable Development" held in Baku.

“Global climate changes have impact on the economy of Azerbaijan. Therefore, investments in green finance are important not only in terms of ensuring environmental benefits, but also for creating a sustainable economy. We must constantly pay attention to such priorities as raising public awareness of the importance of green finance, establishing a dialogue between stakeholders and finding innovative solutions," he said.

Kazimov added that the CBA has already approved a roadmap for development of sustainable financing in early 2023.

“As the Central Bank, we are aware of the priorities we face in connection with this important challenge, and we have strategic agenda for the medium term. This agenda includes such important tasks as improving the regulatory framework and stimulating "green investments". Our main goal is to ensure that financial institutions adapt their portfolios to sustainability goals and have the necessary tools and guidance to work in this area,” Kazimov said.