“The Central Bank of Azerbaijan is developing "green taxonomy" for advancing "green finance," COP29 President-Designate, Azerbaijan’s Minister of Ecology and Natural Resources Mukhtar Babayev said as he addressed the conference on "The Role of Small and Medium Business in the Green Economy" in Baku.
He noted that thanks to the development of taxonomy economic activities would be classified based on "green standards, which will enable enterprises to receive more support for sustainable and environmentally friendly investments.
“This process will allow SMEs to more effectively use available financial resources in order to finance their green transition,” Mukhtar Babayev added.
