April 10, 2023 – The Central Bank of Azerbaijan (CBAR), a Sustainable Banking and Finance Network (SBFN) member since 2022, published the country’s first Sustainable Finance Roadmap in February 2023.
The Roadmap sets out the country’s ambition for sustainable finance for the period 2023-2026 and aims to ensure both sustainability of the financial sector to the environmental, social and governance (ESG) risks and the realization of green finance opportunities.
Learning from the best international practices, the Roadmap builds on the national objectives with regards to environmental, social, and economic development, the global Sustainability Development Goals (SDGs) and the emphasis on green growth.
Congratulating CBAR, Ivana Fernandes Duarte, IFC Regional Manager for the South Caucasus reflected: “We are very glad to see the SF Roadmap adopted by Central Bank of Azerbaijan. The Roadmap is an important step and sends the right signal to the national and international stakeholders about CBAR’s commitment to strengthen the role of the financial sector in sustainable development. We look forward to supporting CBAR in implementing the Roadmap and in promoting the SF agenda in Azerbaijan.”