BAKU, Azerbaijan, October 14. The aim of the 'green' finance concept is to increase the level of financial inflows form the public, private and non-commercial sectors into the implementation of priorities of sustainable development, in such sectors as banking, microcredit, insurance and investments, Trend reports on October 14.
Executive Director of the Center for Analysis of Economic Reforms and Communications of Azerbaijan Vusal Gasimli made the remark at the presentation of the 'Green' economy' book.
"The key part of this is managing environmental and social risks more effectively, seizing opportunities that provide a decent rate of return and environmental benefits, and making more responsible investment decisions," he said.
Gasimli also added that 'green' financial products and services provided as part of 'green' finance are divided into four main groups: retail financing, 'green' corporate loans and investments, 'green' asset management, and 'green' insurance.
The book consists of three sections and seven chapters and covers such topics as climate change, sustainable development, ecological borders of economic development, 'green' economy for 'green' cities, energy efficiency: a world in the search for alternatives, finances and 'green' decision making, 'green' economy in Azerbaijan: current situation and prospect, 'green' budget frames and its use in Azerbaijan, 'green' growth and agriculture: challenges and opportunities.
The book, in particular, pays great attention to work to turn Azerbaijan's liberated territories into a zone of 'green' energy. It also pays attention to research done as part of the 'green' budget and opportunities for its use in Azerbaijan.
The book is intended to support the development of state programs for economic development, strategic documents, and regional and local projects, contributing to the formation of 'green' thinking and lifestyle in Azerbaijan.
