Azerbaijan Hosts Debut Green Bond Issuance with Support from the AIFC Green Finance Centre

Unibank, one of Azerbaijan’s largest private banks, has issued the country’s first-ever green bonds, valued at 20 million AZN (equivalent to 11.8 million USD), in alignment with the Green Bond Principles of the International Capital Market Association (ICMA). This milestone precedes the COP29 conference, where Azerbaijan will host world leaders for discussions on global climate action. The green bond issuance further establishes Unibank’s position as a leader in driving the country’s green agenda, underscoring the bank’s commitment to environmental sustainability and responsible finance.

The green bond issuance was evaluated and approved by the AIFC Green Finance Centre, an accredited verifier with both the Climate Bonds Initiative (CBI) and the ICMA. The Centre provided a Second Party Opinion, certifying the green credentials of the bonds and awarding Unibank an “excellent” rating for its comprehensive environmental strategy and alignment with international green finance standards.

Manas Gizhduaniyev, CEO of the AIFC Green Finance Centre, stated:

“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.”

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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About Unibank

Unibank is one of Azerbaijan’s largest private banks, renowned for its focus on innovation, sustainability and providing comprehensive financial solutions. As a leader in advancing Azerbaijan’s financial sector, Unibank emphasises digitalisation and responsible banking practices.

About AIFC Green Finance Centre

The AIFC Green Finance Centre, based in Astana, Kazakhstan, is a leading institution in sustainable finance in Central Asia. Accredited by the Climate Bonds Initiative and the International Capital Market Association, the Centre offers verification and advisory services to promote the growth of sustainable finance across the region.

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