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Bank ABB announced as principal banking partner for COP29


Bank ABB announced as principal banking partner for COP29

Bank ABB (The International Bank of Azerbaijan) – the largest financial institution in Azerbaijan – has signed up as the Principal Banking Partner for COP29, highlighting encouraging sustainable practice across the finance sector. With headquarters located in Baku, as well as 84 branches across Azerbaijan, Bank ABB is one of the leading banks in the South Caucasus region, serving more than 2.6 million customers.

Bank ABB has demonstrated its commitment to climate action, having joined the UN Global Compact, an initiative promoting corporate social responsibility and adherence to sustainable development principles. Through this membership, Bank ABB is supporting its Sustainable Development Goals and advancing ESG standards. Bank ABB has also initiated the accreditation process with the Green Climate Fund, the financial mechanism of the United Nations Framework Convention on Climate Change UNFCCC.

With climate finance a key issue at COP29 this year, Bank ABB is keen to use the platform as a COP29 partner to affirm its important role in closing the climate finance gap, having already raised more than 100 million AZN in sustainable loans and building a project pipeline worth hundreds of millions of AZN. These funds are being directed to projects in renewable energy, green infrastructure, and sustainable technologies.

Partnering with COP29 this year aligns with Bank ABB’s ambitions, which place a big focus on sustainable development and the efficient use of resources.

Partners at COP29 will use the opportunity to engage with global climate policies, highlight their ongoing efforts on sustainability, and support the delivery of climate action transition in their key business areas. By partnering with COP29 in Baku, businesses can equally demonstrate the critical role they play in advancing green policies and supporting the global community in keeping the 1.5C target within reach.

The Green Zone at COP29 will also feature a range of global businesses showcasing climate-friendly solutions, as a dedicated space for private sector organizations. Organizations will foster connections and advance climate action through a variety of programs, including presentations, workshops, and networking events. Participating businesses can also host their own events using conference facilities with theatre-style seating and various meeting room formats for enhanced visibility, collaboration, and networking.

 

 

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