BAKU, Azerbaijan, November 24. The Central Bank of Azerbaijan (CBA) has developed a roadmap for transition risk data, the CBA Chairman Taleh Kazimov said in an article titled “Advancing sustainability post-COP29,” published in the Central Banking online journal, Trend reports.
According to him, recognition of the interrelationship between emissions, climate change, and the economy encourages a more integrated approach. In this regard, the CBA has launched an inter-institutional initiative to enhance its capacity to assess climate risks.
He pointed out that the above roadmap, developed with technical support from the International Monetary Fund, aims to address the data gaps that have long been a key challenge.
"This initiative aims to accurately and proactively assess and mitigate climate-related financial risks. It also demonstrates the CBA's commitment to data-driven risk management and decision-making.
These improved tools and methodologies will enable financial institutions to more accurately manage climate-related financial risks, ultimately supporting financial stability in the face of increasing climate uncertainty," the chairman stressed.
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