BAKU, Azerbaijan, October 18. The banking sector, together with the Central Bank of Azerbaijan is introducing the principles of sustainable financing in risk management and lending, the chairperson of the Central Bank of Azerbaijan Taleh Kazimov said at the forum on “Green finance and sustainable development” held in Baku, Trend reports.
"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 said.
Kazimov emphasized that one of the key conditions for developing a green economy is the availability of green financing.
"In this regard, several important steps must be taken: increasing public awareness about green financing, facilitating dialogue among stakeholders, and implementing various innovative solutions to expand green financing. These initiatives are at the heart of the Central Bank's strategic agenda. Furthermore, the Central Bank is working to enhance the regulatory framework for green financing. Our main goal is to ensure that financial institutions adapt their portfolios to sustainable development goals and have the necessary tools and guidelines in this area," he added.
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The banking sector, together with the Central Bank of Azerbaijan is introducing the principles of sustainable financing in risk management and lending, the chairperson of the Central Bank of Azerbaijan Taleh Kazimov said at the forum on “Green finance and sustainable development” held in Baku, Trend reports.
"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 the principles of sustainable finance into risk management and lending practices,” he said.