BAKU, Azerbaijan, October 18. The UN in Azerbaijan is ready and committed to cooperating with national partners and the private sector to promote green finance to accelerate the achievement of the SDGs, the acting UN Resident Coordinator in Azerbaijan Nasar Hayat said at the forum titled “Green Finance and Sustainable Development” in Baku today, Trend reports.
“The global community is increasingly realizing the importance of green and sustainable finance for making significant progress towards the Sustainable Development Goals (SDGs) and climate action. As we know, the focus at COP29 in Baku will also be on finance, which is desperately needed to meet the 1.5-degree target of the Paris Agreement. The UN in Azerbaijan is ready and committed to working with national partners and the private sector to help promote green finance to accelerate the achievement of the SDGs,” he said.
To note, the Central Bank of Azerbaijan has currently started to develop a taxonomy of green finance.
The Central Bank together with government agencies, industry associations, financial institutions, investors and international organizations held consultations on the initial version of the taxonomy. At the next stage, it is planned to submit the final draft of the taxonomy to the government for approval.