.png)
A forum on green finance is planned to be held in Azerbaijan.
As Day.Az reports with reference to Trend, this was stated by the President of the Association of Banks of Azerbaijan (ABA) Zakir Nureyev at a round table dedicated to the topic “Creating conditions for private financing“at the university ADA within”Climate Action Weeks” in Baku.
“At the end of this month, it is planned to hold a forum dedicated to green finance and sustainable development with the participation of the ABA, the UN, the Central Bank of Azerbaijan and other financial institutions,” Nuriyev noted.
He also emphasized that Azerbaijan has significant potential for financing the energy transition.
“According to World Bank estimates, Azerbaijan will need US$40 billion to significantly reduce carbon emissions by 2060. The bulk of these funds should come from private financing, including the banking sector. 60 percent of the required investment could come from government and public organizations, and the remaining 40 percent percent – from banking institutions,” he added.