Turkic countries eye launching green finance platform

Turkic countries are considering launching a green finance platform, which will become a digital center for cooperation, data exchange, and project development.

As Report informs, this is stated in the communiqué signed following the First Founding Meeting of the Turkic Green Finance Council in Kazakhstan.

Azerbaijan was represented at the meeting by the Director General of the Central Bank of Azerbaijan, Shahin Mahmudzada.

The adopted communiqué confirms the commitment of member states to the "Green Vision of the Turkic World" and the focus on deepening regional cooperation in the field of green finance. The document emphasizes the importance of developing green financial instruments, strategies and taxonomies for sustainable finance, as well as expanding cooperation, exchanging experience, and facilitating knowledge transfer.

The Turkic Green Finance Council was created to promote cooperation in the field of sustainable finance based on the Memorandum of Understanding signed on November 6, 2024, at the XI OTS Summit in Bishkek. As a new platform, the council provides advisory and expert support to member organizations for the development of green and sustainable finance, encouraging investments taking into account environmental, social, and governance (ESG) factors.