Combating climate change and ensuring sustainable development are no longer solely environmental issues

Combating climate change and ensuring sustainable development are no longer solely environmental issues; they have also become key priorities of global financial policy. In this regard, expanding green financing mechanisms, increasing investment in environmental projects, and strengthening financial cooperation among states are of particular importance.

The development of cooperation in this area among the member and observer states of the Organization of Turkic States is also noteworthy. The introduction of green financial instruments creates new opportunities for accelerating the energy transition, financing renewable energy projects, improving energy efficiency, and ensuring environmental sustainability.

In this context, the second annual meeting of the Turkic Council on Green Financing demonstrates that the green economy and green finance agenda is increasingly coming to the forefront in the Turkic world. Discussions held at the meeting on the development of green financing, existing opportunities, and the tasks ahead once again highlighted the importance of coordination in this field. Providing information on the issues discussed at the event, Hüseyn Hüseynov, Advisor to the Minister of Economy, said:

“Among the main topics discussed were expanding activities aimed at developing carbon markets; discussing the application of green financial instruments to nature-based solutions; and implementing joint projects to enhance capacities in member states related to the application of these instruments”

The projects implemented by Azerbaijan in recent years in the areas of green energy, renewable energy sources, and the energy transition are also aligned with this agenda. Efforts to transform Karabakh and Eastern Zangazur, as well as Nakhchivan, into green energy zones constitute important components of the country’s green economy strategy.

For the Turkic world, however, green financing is not merely a means of addressing environmental challenges. It is also of strategic importance in terms of introducing new technologies, expanding investment cooperation, and financing joint projects.

From this perspective, the activities of the Turkic Council on Green Financing can be regarded as one of the platforms enabling financial and economic cooperation among Turkic states to enter a new stage. In the period ahead, the main objective is to turn the initiatives adopted into concrete projects and ensure that green finance generates tangible economic results.