BISHKEK, Kyrgyzstan, November 6. A Memorandum of Understanding (MoU) on the establishment of the Turkic Council for Green Finance of the member states of the Organization of Turkic States (OTS) has been signed, TurkicWorld reports via the Kyrgyz Stock Exchange (KSE).
The memorandum was signed during the 11th summit of OTS in Bishkek, Kyrgyzstan.
The document signatories are Acting President of the KSE Aida Chodulova, Governor of the Central Bank of Azerbaijan Taleh Kazimov, Managing Director of the Astana International Financial Center Renat Bektorov, Foreign Minister of Uzbekistan Bakhtiyor Saidov and his Turkish counterpart Hakan Fidan.
The main goal of the council is to provide consultations to its members on issues related to the development of green and sustainable finance, as well as investments in ESG (Environmental, Social, and Governance) factors. In particular, the Council will assist in organizing the following activities:
- development of strategies for green and sustainable finance and green taxonomies;
- ESG reporting for listed companies;
- attraction of ESG investments and promotion of sustainable financing;
- creation of a joint project portfolio for implementation using sustainable financing tools;
- organization of regional ESG forums;
- conducting training sessions;
- addressing any other issues related to creating favorable conditions for the development of green and sustainable finance and ESG investments.
The signatories expressed their commitment to the sustainable development goals of OTS member states, the achievement of the UN Sustainable Development Goals, the Paris Agreement's targets, carbon neutrality, and the reduction of greenhouse gas emissions.
Additionally, they agreed on the need to form a unified, all-encompassing strategy for reeling in investments in a sustainable economy.
