In accordance with the newly adopted regulations, reporting requirements have been introduced for banks to the Central Bank regarding measures taken in the direction of green loans and sustainable finance.
elchi reports that this was stated by Toghrul Aliyev, Deputy Chairman of the Central Bank of Azerbaijan (CBA), during his speech at the “V Agribusiness Development Forum” held in Baku.
According to him, the mentioned reporting mechanism comes into effect starting this month.
“At the same time, another requirement of ours is that starting from 2027, banks will be required to disclose information to the public regarding measures taken in the direction of sustainable lending in general,” noted Toghrul Aliyev.
The Deputy Chairman also added that the Central Bank recently joined the NGFS (Network for Greening the Financial System) network: “This is a network of central banks and supervisory authorities for greening the financial system. We believe that both this network and events like the Agribusiness Development Forum, in which we are currently participating, will give impetus to the formation and development of a dialogue platform for all stakeholders in this field,” he emphasized.