The measures to be taken by the Central Bank of Azerbaijan (CBA) in connection with COP29 can be divided into several areas, CBA Executive Director Shahin Mahmudzada told a press conference.

“The first area is related to the creation of stable financial infrastructure in the country. This includes the identification and legal infrastructure of both green bonds and other sustainable financial instruments. The second area is the formation of risk management systems related to sustainable finance. This applies especially to the banking sector. The third area is the determination of the form of accountability. The fourth area is to prepare the ecosystem in general for the use of sustainable financial instruments. We have accelerated our COP29 agenda and prioritized some work,” the CBA official said.

“Another issue related to the session is to support the formation of initiatives as a host country for this event. It is planned to hold joint events with banks and Baku Stock Exchange CJSC,” Mahmudzada.