Baku: Bank ABB, the largest financial institution in Azerbaijan, has been appointed as the Principal Banking Partner for COP29, underscoring its commitment to promoting sustainable practices within the finance sector. The announcement was made by the COP29 Azerbaijan Operating Company, as reported by Azeri-Press News Agency.

According to Azeri-Press News Agency, with its headquarters in Baku and 84 branches across Azerbaijan, Bank ABB is a leading bank in the South Caucasus, serving over 2.6 million customers. The bank is a member of the UN Global Compact, an initiative aimed at promoting corporate social responsibility and sustainable development principles. Bank ABB is also in the process of becoming accredited with the Green Climate Fund, the financial mechanism of the United Nations Framework Convention on Climate Change.

At COP29, climate finance is a central issue, and Bank ABB aims to use its role as a partner to address the climate finance gap. The bank has already raised over 100 million AZN in sus
tainable loans and is developing a project pipeline valued at hundreds of millions of AZN, targeting renewable energy, green infrastructure, and sustainable technologies.

Partnering with COP29 aligns with Bank ABB’s focus on sustainable development and resource efficiency. The partnership offers businesses a platform to engage with global climate policies, showcase sustainability efforts, and support the transition to climate action in key business areas.

The Green Zone at COP29 will feature global businesses presenting climate-friendly solutions. This space will allow private sector organizations to connect and advance climate action through presentations, workshops, and networking events. Businesses will also have the opportunity to host events using conference facilities designed for collaboration and visibility.

Commenting on the partnership, Narmin Jarchalova, Chief Operating Officer for COP29 Azerbaijan, expressed enthusiasm, emphasizing the importance of climate finance at this year’s conference. Ab
bas Ibrahimov, Chairman of the Management Board at Bank ABB, reiterated the bank’s commitment to addressing climate change, highlighting the critical role of the banking sector in fostering economic and social stability and advancing sustainability solutions.