BAKU, Azerbaijan, October 18. The work of the UN and the Central Bank of Azerbaijan in the field of green finance is aimed at the harmonious development of the economy, the acting UN Resident Coordinator in Azerbaijan Nasar Hayat said at the forum titled “Green finance and sustainable development” in Baku today, Trend reports.
“Last year, as part of the UN Joint SDG Financing Program implemented by UNDP and UNFPA, we developed an SDG investment map for Azerbaijan, identifying sectors and areas with high potential to accelerate SDG implementation while offering lucrative investment opportunities for businesses. We also carried out a study of the social impact investing ecosystem, which identified the necessary components to further expand the impact investing culture in Azerbaijan. In addition, we worked with the Entrepreneurship Development Fund under the Ministry of Economy to develop a roadmap for introducing ESG principles into the fund's activities,” he said.
According to him, everyone recognizes that the transition to a green economy requires both innovation and collaboration.
“The global transition to sustainable finance requires creative solutions, be it green bond issuance, innovative financial mechanisms, or partnerships across sectors. Today's forum, organized by the Central Bank of Azerbaijan in cooperation with the UN and key financial associations, is an important contribution to the dialogue on sustainable finance on the eve of COP29. Our work on green finance is not just about numbers or investment; it is about creating a future in which both the environment and the economy develop harmoniously. The partnerships we build here will be critical moving forward, ensuring Azerbaijan's leadership role in advancing sustainable development efforts on the global stage. Together, through dialog and cooperation, we can make green finance the foundation of our common future, meeting the challenges of climate change and achieving the Sustainable Development Goals, leaving no one behind,” Nasar Hayat added.