At COP29, Azerbaijan will introduce a unified green investment rulebook developed with over 100 countries to streamline global green finance standards and improve clarity for investors.
At COP29, Azerbaijan is set to launch a groundbreaking global green investment rulebook, developed in collaboration with over 100 countries, to bring uniform standards to sustainable finance worldwide. Central Bank Governor Taleh Kazimov announced that the initiative includes a unified taxonomy, designed to simplify and align green financing frameworks for nations, easing the process for issuing green loans and attracting investments.
The new rulebook, inspired by the European Union’s green taxonomy but with a wider reach, seeks to offer a globally consistent framework for sustainable finance, with support from the United Nations. This initiative comes in response to investor confusion arising from varying national standards, and is expected to enhance transparency and comparability across borders.
Kazimov will also outline Azerbaijan’s green investment budget through 2030, aimed to match the $15 billion loan portfolio of Azerbaijani banks, as confirmed by the Association of Banks of Azerbaijan. The country will further support green finance through sukuk bonds, a type of Islamic bond aimed at expanding investment options for environmentally focused projects.
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