BAKU, Azerbaijan, October 1. PASHA Bank, the country’s leading corporate financial institution, has announced that it is stepping up efforts to support Azerbaijan’s climate and sustainability initiatives by channeling investments into sustainable financing and ecological projects, said the bank’s Deputy Chairman of the Executive Board, Bahruz Naghiyev, Trend reports.
Speaking at a panel discussion during Baku Climate Action Week 2025 (BCAW2025), held from September 30 through October 3, Naghiyev highlighted the impact of COP29 on Azerbaijan’s financial sector and emphasized the role of banks in advancing sustainability.
“After COP29, as PASHA Bank, we are aligning our portfolio with environmental and social criteria, supporting sustainable financing projects, and prioritizing the involvement of small and medium-sized enterprises (SMEs) in the green transition. We believe that real impact is only possible when the entire financial sector embraces sustainability as a priority,” Naghiyev stated.
He further noted that the COP29 process has created strong momentum within the financial sector, adding that banks are now expected to finance not only projects that generate economic profit but also those that are socially and environmentally responsible. Nagiyev underlined the importance of improving the legislative framework for the development of the green finance market and strengthening international partnerships.
BCAW2025 creates a platform for global dialogue on climate across a wide range of areas, including policy, energy, science, finance, youth entrepreneurship, education, fashion, sports, culture, and more, bringing together world leaders, experts, investors, entrepreneurs, youth, and communities.
PASHA Bank joined the United Nations Global Compact in 2023. Its Corporate Social Responsibility (CSR) strategy for 2024-2026 has been developed in line with the United Nations Sustainable Development Goals, with “climate action” identified as one of the bank’s key focus areas during this strategic period.
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