2024-08-06 04:12:13
The Central Bank of Azerbaijan (CBA) will hold a number of events in several areas in connection with the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29).
This was announced at a press conference on Wednesday by the CBA CEO Shahin Mahmudzade, answering a question from Trend, Day.Az reports.
“The first area is related to the creation of a sustainable financial infrastructure in the country. This includes the definition of both “green” bonds and other sustainable financial instruments and the creation of a legal infrastructure. The second area is the formation of risk management systems related to sustainable financing. This is especially true for the banking sector. The third area is the definition of the reporting form. The fourth area is the preparation of the ecosystem as a whole for the use of sustainable financial instruments,” he noted.
According to Mahmudzade, as part of the support for the formation of initiatives by the country hosting COP29, it is planned to hold events jointly with banks and the Baku Stock Exchange CJSC.
It should be noted that the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) will be held in Baku from November 11 to 22.