IFC to present roadmap for "green" buildings before COP29

The International Finance Corporation (IFC) intends to present a roadmap for the construction of "green" buildings before COP29, said IFC sustainable finance specialist Leyla Huseynli.

"Based on the concluded memorandum of co-operation with the State Committee for Urban Planning and Architecture of Azerbaijan, it is planned to create a regulatory framework for the construction of ‘green’ buildings," she said, per Caliber.Az.

A roadmap will be drawn up and it is planned to present it before COP29,’ Huseynli said on Wednesday at the Microfinance Association's conference on “Innovative Solutions for Sustainable Microfinance”.

The 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change (UNFCCC) will be held on November 11 – November 22 in Baku, Azerbaijan.

As part of the World Bank Group delegation at COP29, IFC will showcase its efforts to accelerate the transition to low-carbon, resilient and inclusive growth in emerging markets.

The IFC, a member of the World Bank Group, has been actively engaged with Azerbaijan to support its economic development and transition to a more sustainable and diversified economy. In recent years, IFC’s engagement with Azerbaijan has increasingly focused on economic diversification and sustainability. This aligns with Azerbaijan’s efforts to reduce its dependence on oil and gas and develop other sectors of the economy.

By Khagan Isayev