Azerbaijan Hosts Debut Green Bond Issuance with Support from the AIFC Green Finance Centre
Unibank, one of Azerbaijan’s leading private banks, has issued the country’s inaugural green bonds, valued at 20 million AZN (USD 11.8 million), aligning with the Green Bond Principles of the International Capital Market Association (ICMA). This groundbreaking issuance precedes COP29, where Azerbaijan will host global leaders in climate action discussions.
The green bonds were evaluated and approved by the AIFC Green Finance Centre, an accredited verifier under the Climate Bonds Initiative (CBI) and ICMA. The Centre’s Second Party Opinion awarded Unibank an “excellent” rating, certifying the bonds’ green credentials and recognizing Unibank’s commitment to environmental sustainability and responsible finance.
“This issuance marks a significant step forward not only for Unibank but for the entire regional green finance ecosystem. Launching green bonds ahead of COP29 signals Azerbaijan’s dedication to sustainable development and the country’s commitment to global climate goals. We are proud to have supported Unibank in this pioneering endeavor and eagerly anticipate its positive environmental impact."
— Manas Gizhduaniyev, AIFC Green Finance Centre CEO
The funds raised through these green bonds will be directed toward finance projects that contribute to environmental sustainability, including renewable energy, energy efficiency, and clean production initiatives. These projects will support Azerbaijan in reaching its climate goals and emphasise the critical role of the private sector in the country’s decarbonisation efforts.
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