11:20 - 3.12.2024

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December 3, Fineko/abc.az. In Azerbaijan, banks are one of the main pillars of the country's economy.

ABC.AZ reports that the statement was made by the executive director of the Center for Analysis of Economic Reforms and Communications, Vusal Gasimli, at the VIII International Banking Forum in Baku.

Basing his speech on the issue of sustainability of banks, Gasimli noted that banks should develop strategies to support development based on the environmental, social and management standard (ESG) for sustainable banking.

He believes that banks can contribute to the future of society by promoting green finance and sustainable projects: "The Green Taxonomy approved by the Central Bank of Azerbaijan can be considered an important timely step in terms of sustainable development in the financial sector and strategic goals for the green transition. This document defines the types and subspecies of "green activity" by economic sectors and criteria for their technical classification, covers 10 sectors."