PwC Sees Untapped Potential for Green Bonds in Central Asia and Azerbaijan

Yermekbay Zhakeyev, Deals Director at PwC, has announced that Azerbaijan and Central Asian countries hold considerable potential to expand the use of green financial instruments.

Zhakeyev made these remarks at the Azerbaijan and Central Asia Green Energy Week 2025 forum in Baku, The Caspian Post reports per local media.

“At PwC, we’re seeing tremendous interest in green finance from clients, institutions, and governments alike. While the topic is more relevant than ever, there’s still a long road ahead to full‑scale implementation,” Zhakeyev remarked.

He added, “Green bonds, carbon credits, and ESG frameworks can serve as powerful tools for sustainable development - but they need better integration and stronger support to truly unlock their potential.”

Zhakeyev outlined three strategic priorities for advancing green finance in the region, especially in Azerbaijan:

Improving accessibility and scale: Making green bonds, loans, and other instruments available to small and medium‑sized enterprises (SMEs), local banks, and regional projects.

Streamlining regulations and issuance: Simplifying the processes for issuing green financial products.

Providing incentives and technical support: Introducing tax benefits and ensuring robust systems for verification and reporting.

He noted that Kazakhstan and Uzbekistan are already making progress with green bonds and loans, but emphasized that broader participation and simplified structures are needed to expand reach.

Forum participants agreed that boosting green finance is essential to accelerate renewable energy, meet climate targets, and support sustainable economic growth across Azerbaijan and its neighbours.