Baku, November 15, AZERTAC

On November 15, the CASI Sustainable Finance Forum, held at the Azerbaijan State University of Economics (UNEC), concluded successfully as part of the COP29 events.

Jointly organized by UNEC and Azerbaijan’s COP29 High-Level Champion for Sustainability, the forum gathered nearly 200 participants from government institutions, financial organizations, and the private sector. Keynote speakers included Ma Jun, Chair of CASI and the Institute for Finance and Sustainability (IFS); Huseyn Hasanov, UNEC Vice-Rector for International Relations and Programs; Erik Solheim, former Executive Director of the United Nations; Shahin Mahmudzade, Executive Director of the Central Bank of Azerbaijan; and David Atkin, CEO of the United Nations Principles for Responsible Investment (UNPRI).

As part of COP29, the forum focused on topics such as sustainable finance, carbon pricing, and green financing strategies. Special emphasis was placed on green financing mechanisms to support developing nations in transitioning to sustainable development.

The forum also highlighted Azerbaijan’s efforts to diversify its economy in response to the risks posed by climate change. Traditionally an oil and gas exporter, Azerbaijan has set ambitious targets to reduce greenhouse gas emissions by 40% by 2035 and 70% by 2050. To aid this transition, the Central Bank of Azerbaijan is implementing a Sustainable Finance Action Plan for 2022–2025.

Extensive discussions were held on global challenges related to sustainable development, alongside opportunities at local and regional levels.