BAKU, Azerbaijan, November 15. For the time being,
lower than 10 banks working in Azerbaijan are severely engaged in
protecting dangers associated to environmental, social and governance
(ESG) features, Director Common of the Central Financial institution of Azerbaijan
Togrul Aliyev mentioned, Pattern reviews.
He spoke on the II Baku Discussion board on Sustainable Improvement.
He famous that in line with World Financial institution calculations, about 55
% of the mortgage portfolio of Azerbaijan’s banking sector is
concentrated in organizations which may be weak as a result of local weather
change.
“In June and July of this 12 months, the Central Financial institution performed
surveys amongst monetary sector representatives. The ballot included
52 monetary establishments, representing 95 % of all monetary
establishments. Our purpose is to research the extent of
sustainability consciousness and to be taught concerning the actions they intend
to absorb the longer term. To this point, lower than ten banks within the nation
have actively thought of environmental, social, and governance
(ESG) danger protection. That is nonetheless within the planning phases at different
establishments,” Togrul Aliyev mentioned.
Aliyev added that there are additionally expectations from monetary
establishments for sure concessions on this space. The Central Financial institution
can also be targeted on this challenge and can take measures on this
route.
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