Azerbaijan's banking sector plans to reduce greenhouse gas emissions by 35% by 2030

The Azerbaijan Banks Association plans to reduce greenhouse gas emissions in the banking sector by 35% by 2030, chairman of the Association, Zakir Nuriyev, said on October 18 in Baku at the forum "Green Finance and Sustainable Development," Report informs.

He noted that this task corresponds to the climate goals of the Azerbaijani government and strengthens the environmental responsibility of the banking sector: "One of the steps in the field of sustainable banking is the development of the Association's ESG strategy, which covers 2024-2030 and is based on three main goals (increasing sustainable financing opportunities, raising awareness about ESG, improving ESG capabilities). To achieve these goals, a total of 10 initiatives have been identified. Among them are improving bank sustainability, enhancing experience exchange activities, developing ESG awareness campaigns, developing human capital, and increasing the level of digitalization in the banking sector."

Nuriyev noted that for the successful implementation of the ESG strategy, 97 strategic tasks have been identified, which, among other things, support the full integration of ESG in the banking sector.