17:11 - 12.11.2025
November 12, Fineko/abc.az. The Central Bank of Azerbaijan (CBA) will require financial institutions to start disclosing their "green" and sustainable portfolios this year.
As ABC reports that Rustam Takhirov, the director of the CBA's Department for Sustainable Development of the Financial Sector, made the a bove-said at the presentation of the ADB's Small and Medium-Sized Enterprise Monitor (ASM) 2025 Edition in Baku.
He added that small and medium-sized businesses (SMEs) are the backbone of the economy: "They are important players in terms of employment, innovation and inclusive development. SMEs are also important in terms of sustainability and achieving climate goals. Therefore, gardening of SMEs is important. So far, at the global level, the "green policy" has mainly been focused on large companies. Taxonomic standards have also been developed in accordance with these requirements. But we know that small and medium-sized enterprises account for a significant portion of their emissions into the atmosphere."
Takhirov emphasized that it is important that the "green transition" and sustainability are included in the SME policy: "The first problem we face when greening SMEs in Azerbaijan and around the world is the lack of information and knowledge about "green technologies" and "green financing" tools. The second problem for small and medium-sized businesses is costs. "Green technologies are usually more expensive than traditional technologies."
Takhirov noted that the Central Bank will continue its efforts towards a "green transition": "This year we will require financial institutions to start disclosing their green and sustainable portfolios. We think that by strengthening the green activities of financial institutions, we can also contribute to the greening of the small and medium-sized business sector."
