The objective of the Roadmap is to enhance the resilience of financial institutions to risks arising from climate change and other environmental, social, and governance (ESG) factors, while facilitating the identification and realization of opportunities associated with the transition to a sustainable economy. The Roadmap has been developed with due regard to international best practices and sets out a comprehensive framework of measures aimed at integrating climate-related and ESG considerations into the regulation and supervision of the financial sector. It further seeks to embed such considerations within the strategic decision-making, governance, and risk management processes of financial institutions, including banking organizations, insurance undertakings, and capital market participants. In addition, the Roadmap promotes the development of appropriate market standards and supports the establishment of a sustainable finance ecosystem through the creation and expansion of sustainable financial instruments. More broadly, the implementation of the Roadmap is expected to contribute to the development of a sound, resilient, sustainable, and efficient financial sector, thereby supporting long-term economic stability and sustainable growth within the country.
Azerbaijan · 2023-01-01