"During COP29, banks have committed to supporting the green transition," Governor of the Central Bank of the Republic of Azerbaijan Taleh Kazimov said on the 4th day of the Baku Climate Action Week (BCAW), APA reports.
“Along with all the challenges, there are also sufficient opportunities. We must take advantage of these new opportunities. As the Central Bank of Azerbaijan, we understand our responsibility to the green transition. Financial stability is very important to us, and we must also support the financial sector. We have developed a green finance taxonomy, which we will introduce to the market before COP. New guidelines have been prepared for financial institutions, especially banks. Banks must now implement the relevant criteria they are responsible of. Considering that the financial sector is dominated by banks, as they make up 90% of this sector.”
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