Central Bank approves Sustainable Finance Roadmap

22-02-2023

22 February 2023, Baku:  To transform the financial sector into sustainable finance, the Central Bank of the Republic of Azerbaijan (CBAR) approved the Sustainable Finance Roadmap for 2023-2026 by the Resolution of the Management Board of the CBAR dated 15 February 2023.

The goal of the Roadmap is to ensure the resilience of financial institutions to risks posed by climate changes and other ESG (environmental, social and governance) factors, as well as to realize the opportunities associated with the transition to a sustainable economy. The Roadmap has been developed taking into account international best practices and includes measures to integrate climate changes and ESG criteria into the financial sector regulation and supervision framework, as well as to integrate financial institutions (banking, insurance and capital market participants) into strategic decision-making and risk management processes, to form appropriate market standards in this area and create an ecosystem of sustainable financial instruments.

In general, the implementation of the Roadmap will serve to form a healthy, sustainable and efficient financial sector in the country.

The Sustainable Finance Roadmap can be found at:

The Sustainable Finance Roadmap