BCCA Sustainability and Energy Committee

Panel Discussion on

Sustainable Finance

On May 15, 2026, British Chamber of Commerce in Azerbaijan (BCCA) Sustainability and Energy Committee hosted a panel discussion on Sustainable Finance. The panel brought together representatives from the Central Bank of the Republic of Azerbaijan (CBAR), Azerbaijan Business Development Fund (ABDF), Baku Stock Exchange (BSE), and Azerbaijan Airlines (AZAL) to explore how the integration of ESG principles and green financial instruments will serve as the primary drivers for Azerbaijan’s long-term economic resilience and global competitiveness.

Moderated by Gurban Karimbayli, Head of Sustainable Development at AZAL, the session emphasized that sustainable finance has evolved from a matter of corporate responsibility to a strategic economic priority. "Sustainable finance is increasingly becoming the bridge between climate ambition and economic implementation," Karimbayli noted.

Mr. Rustam Tahirov, Director of the Financial Sector Sustainable Development Department at CBAR, shared critical updates on the country’s regulatory roadmap. He highlighted Azerbaijan’s recent achievement of becoming a full member of the Network for Greening the Financial System (NGFS) as of April 30, 2026. Tahirov detailed the CBAR’s progress on Green Taxonomy and the implementation of an ESG Risk Radar, designed to help financial institutions identify and mitigate climate-related vulnerabilities.

Mr. Emil Mammadov, Chief Financial Officer of Azerbaijan Business Development Fund (ABDF), focused on the practical application of sustainable finance for local enterprises. For green and digital initiatives, the ABDF is deploying concessional loans with interest rates as low as 5% and tenors extending up to 10 years. Mammadov stressed that ESG integration is no longer optional but is now a "survivability factor" for companies seeking long-term resilience and competitiveness in a globalized economy.

Discussing the potential of capital markets, Dr. Farid Abbaszada, Head of Trading Floor at BSE, provided an eye-opening perspective on the scale of the sector. He noted that the total size of the sustainable capital market has reached a staggering $9.1 trillion USD globally, highlighting the immense opportunity for Azerbaijan to attract green investment through instruments such as green bonds and sustainability-linked bonds (SLBs).

This panel serves as a platform for the cross-sector coordination required to bridge Azerbaijan’s climate ambitions with practical economic implementation. These collaborative initiatives ensure that Azerbaijan remains a high-value, resilient destination for global capital while fostering a sustainable ecosystem for future generations.