The private sector, along with the public sector, must play a leading role in adapting to new challenges and sustainable transformation of the national economy and financial systems, Governor of the Central Bank of Azerbaijan (CBA) Taleh Kazimov said at the event titled “Raising Ambition, Delivering Action: COP29 Sustainable Business Forum,” Report informs.

The private sector must quickly adapt its business models to climate change, he said, noting that it can also influence user behavior by creating sustainable products and services:

“To achieve the goals set for transforming the national economy, the activities of regulatory bodies are important. This activity is based on the introduction of leading international practices in various areas of the economy, including in the financial sector, and on regulatory functions.”