Sunniya Durrani-Jamal: ADB ready to support development of sustainable bond market in Azerbaijan

The Asian Development Bank (ADB) is ready to support the development of a vibrant market for sustainable bonds and other instruments aligned with ESG principles in Azerbaijan, ADB Azerbaijan Country Director Sunniya Durrani-Jamal said at the joint forum of ADB, Unicapital Investment Company OJSC, and ABB-Invest Investment Company CJSC titled "Riding the Next Wave in Azerbaijan: Capital Markets for Green and Sustainable Growth,"  Olaylar informs.

"Azerbaijan stands today at a pivotal moment in its economic trajectory. In recent years, the country has made meaningful progress in strengthening macroeconomic stability, investing in human capital, advancing renewable energy ambitions, and modernizing infrastructure.

As reflected in the ADB-Azerbaijan Country Partnership Strategy (2025-2029), the governmentchr("39")s commitment to transitioning toward a green, diversified, and knowledge‑based economy is clear and resolute. The increasing share of the non‑oil economy, the bold steps to raise renewable energy capacity toward 2030 targets, and the ambitious infrastructure transformation under the Azerbaijan 2030 agenda, all show a country preparing for the next wave of growth-one powered by innovation, resilience, and sustainability.

Yet to fully realize this vision, Azerbaijan needs stronger, deeper, and more inclusive financial markets that can mobilize long‑term capital, attract private investment, and accelerate the shift to green growth. This is why we are here today," she said.

"Global experience shows that well‑functioning capital markets are the backbone of sustainable development. They expand access to long‑term financing for infrastructure, and innovation such as renewable energy, transport, digitalization, and growth of small and medium enterprises-precisely the areas Azerbaijan has prioritized.

At the same time, sustainable finance is no longer a niche segment; it has become central to global investment flows. With COP29 hosted in Baku in 2024, Azerbaijan is now firmly on the world map of climate ambition. The countrychr("39")s launch of its Green Taxonomy and Sustainable Finance Roadmap is a strong step forward. The next natural progression is to unlock a vibrant market for sustainable bonds and other ESG‑aligned instruments - both sovereign and corporate," she added.

The event aimed to create opportunities for capital market development, strengthen understanding of global and regional market trends, as well as regulatory developments shaping Azerbaijanchr("39")s market landscape. It highlighted the need for robust financial infrastructure, digital transformation, and risk management tools to support efficient and resilient capital markets.