CBA And IFC Collaborate To Establish Unified Taxonomy Principle For 110 Countries
Date
10/18/2024 6:02:59 AM
(MENAFN- AzerNews)
Nazrin Abdul
Read more
The Central bank of Azerbaijan, with the support of the
International financial Corporation (IFC), is working on the
creation of a single taxonomy principle for 110 countries.
This was stated by Shahin Mahmudzade, the General Director of
the Central Bank of Azerbaijan (CBA), at the forum on "Green
Finance and Sustainable Development" held in Baku,
Azernews reports.
"The taxonomy exists in 48 countries worldwide, but each of them
differs from the others. What is considered ecological in one
country may not be so in another, which creates difficulties for
cross-border operations. In this context, I would like to highlight
the initiative of the Central Bank of Azerbaijan and the special
support from the IFC.
We are working on creating a single taxonomy principle for 110
countries and have already reached agreements with more than 80 of
them. Our goal is to sign a document that unites these countries.
Of course, there cannot be a single taxonomy for the entire world,
as every country has its own geographical and economic realities,
but we are working toward global recognition of taxonomies with
similar principles," he said.
MENAFN18102024000195011045ID1108794868
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.