Azerbaijan’s Central Bank applies for membership in NGFS

The Central Bank of Azerbaijan (CBA) has applied for membership in the Network for Greening the Financial System (NGFS), Report informs via the CBA.

According to the bank, the main goal of the application is to study international experience and exchange experience. At present, discussions on the membership process are ongoing.

In addition, last year, CBA organized an exchange of experience with the Central Bank of Georgia regarding participation in international initiatives and increasing cooperation on sustainable finance.

Within the framework of the program, the experience of the Central Bank of Georgia on the implementation of the national coordination platform for the application of sustainable finance, taxonomy preparation, and application of sustainable finance instruments, as well as the assessment of climate change and ESG risks, was studied.