CBA chair: Sustainable financial transition in Azerbaijan to be phased

12:51 - 17.05.2024

May 17, Fineko/ It is planned to gradually implement sustainable financial transition in Azerbaijan, increasing the depth of financial markets and the potential of existing financial institutions.

ABC.AZ reports that CBA chairman Taleh Kazimov said about this at the business forum "Raising ambitions and stimulating activity: COP29".

He added that development of the financial sector will allow development of an ecosystem of sustainable financial flows: "At that, one of the tasks facing us on the roadmap is the introduction of climatic, environmental, social and managerial factors into the financial system."

He noted that the CBA has made changes to the corporate governance standards of banks, insurance and investment companies: "In accordance with these standards, financial institutions must take into account environmental, social and managerial factors to ensure long-term sustainability."