Event titled ‘Sustainable finance in Azerbaijan’ held

06-04-2024

06 April 2024, Baku: An event titled ‘Sustainable finance in Azerbaijan’ was held in partnership between the Central Bank and EY, organized by the ACCA (Association of Chartered Certified Accountants). The event attended by more than 100 representatives of the public and private sectors, embassies and international institutions highlighted Azerbaijan's sustainability initiatives, goals and priorities related to the socio-economic development strategy.

Event participants also reviewed the summary of new standards by the International Sustainability Standards Board (ISSB) and the experience of the Public Oversight, Accounting, and Auditing Standards Authority of Türkiye on the introduction of sustainability standards.

Rustam Tahirov, Director of the Financial Stability Department of the Central Bank spoke about the main directions of the Central Bank’s sustainable and green finance agenda and highlighted that the risks related to the ESG (Environmental, Social, and Governance) factors are critical for the stability of financial institutions. He also underscored the importance of the strengthening institutional capacity and cooperation to achieve sustainable finance goals. Additionally, the ‘Sustainable Finance Principles’ developed by the Central Bank were brought to the attention of the event participants.