Central Bank Governor participates in sustainable finance event

13-06-2025

13 June 2025, Baku: Governor of the Central Bank, Taleh Kazimov,  participated in an event organized by PASHA Holding, focusing on sustainable finance.

This event, held within the framework of the "Business Talks by PASHA Holding" platform, aimed to discuss current trends and challenges in environmental, social, and governance (ESG) reporting and rating systems, as well as climate-related financial risks. The event also aimed to strengthen dialogue on sustainable development within the country's financial and business sectors.

The opening ceremony featured prominent officials including Deputy Prime Minister of the Republic of Azerbaijan Samir Sharifov, Minister of Economy Mikayil Jabbarov, Governor of the Central Bank Taleh Kazimov, CEO of PASHA Holding Jalal Gasimov, and Head of EY Azerbaijan Ilgar Valiyev.

In his address, Governor Kazimov provided detailed information on the Central Bank's ongoing reforms and future plans to accelerate the green transition and promote sustainable finance in the country. He highlighted that sustainable finance has been identified as one of the Central Bank’s top priorities, underpinned by the Sustainable Finance Roadmap and the Financial Sector Development Strategy for 2024–2026. Governor Kazimov emphasized the adoption of the Green Taxonomy, the integration of ESI risks into banks' risk management systems, the formation of frameworks for sustainable financial products and the establishment of verification mechanisms are among the important initiatives in this area. He also stressed the global significance of the Roadmap for Advancing Interoperability and Comparability of Sustainable Finance Taxonomies initiative developed by the Central Bank in collaboration with international partners for the COP29 event.

The main part of the event featured panel discussions on ESG Ratings and Reporting, Expert Discussion, and Climate Risks. Experts from various fields shared regional and global experiences in sustainable finance.

Executive Director of the Central Bank Shahin Mahmudzadeh, contributed as a speaker to the Expert Discussion panel. He spoke about important issues on the sustainable finance agenda, the significance of ESG ratings, and the Central Bank's future plans in this area. He also spotlighted the major challenges in creating a sustainable finance ecosystem and the ways to overcome them.