At a forum in Baku, Azerbaijan, the acting UN Resident Coordinator Nasar Hayat expressed the UN’s readiness to collaborate with national partners and the private sector to promote green finance in order to accelerate the achievement of the Sustainable Development Goals (SDGs). With a focus on finance at COP29 in Baku, the urgent need to meet the 1.5-degree target of the Paris Agreement is clear.
The Central Bank of Azerbaijan is taking steps towards developing a taxonomy of green finance, in consultation with government agencies, industry associations, financial institutions, investors, and international organizations. The aim is to present the final draft of the taxonomy to the government for approval, highlighting the country’s commitment to sustainable development.
Hayat emphasized the growing recognition of green and sustainable finance in driving progress towards the SDGs and climate action globally. By working together with various stakeholders, Azerbaijan is poised to make significant strides in promoting green finance and contributing to a more sustainable future.
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