Baku: The Central Bank of Azerbaijan (CBA), in collaboration with national banks, is advancing the integration of sustainable financing within its risk management and lending frameworks, announced CBA Chairperson Taleh Kazimov during the “Green finance and sustainable development” forum in Baku.

According to Trend News Agency, Kazimov highlighted the strategic moves being adopted by the banking sector to incorporate sustainability in their operations. “The banking sector considers the risks faced by the country’s economy and the financial sector in this area and builds its activities accordingly. In this regard, the banking sector closely cooperates with the Central Bank, working to integrate sustainable finance principles into risk management and lending practices,” he explained.

Kazimov also stressed the importance of green financing for the development of a green economy. He outlined several critical steps necessary to expand green finance, including increasing public awareness, facilitating stakeholder
dialogue, and implementing innovative solutions. “These initiatives are at the heart of the Central Bank’s strategic agenda,” Kazimov stated, adding that the CBA is also enhancing the regulatory framework to support financial institutions in adapting their portfolios to sustainable development goals.