IBA has joined the UN Global Compact in support of green world initiatives
IBA has joined the UN Global Compact as a continuation of its sustainability initiatives. This agreement encourages the promotion of social responsibility of business and its compliance with the principles of sustainable development. Membership of the UN Global Compact includes the Bank's promotion of the Sustainable Development Goals (SDG) as well as environmental, social and corporate governance (ESG). Thus, IBA declares that it will follow the 10 principles of the Global Compact.
It should be recalled that last year IBA presented the Sustainable Development Report for 2022 prepared in accordance with international standards and shared its activities in the direction of sustainability with the public.
It contributes to sustainable development through CSR projects
IBA continues to support projects for the development of education, sports and culture in our country. In 2023, "Career Week" was held for students and graduates of the academy under the organization of "ABB Tech Academy". Based on the Bank's partnership with various higher education institutions, career days were also organized at individual universities. So far, 603 people have graduated from more than 30 programs of "ABB Tech Academy". A total of 82 percent of the graduates were employed in more than 130 local and foreign companies, 35 percent of them in IBA.
IBA also supported the "TamGanj Basketball League" among students, "Education Development Forum", and "Boundless Talents" exhibition-fair organized by the DOST Agency in cooperation with the Azerbaijan Banks Association at BSU for young people with physical disabilities. The Bank also organized a Summer Math Camp for young people with special talent in the field of mathematics.
In the future development strategy of IBA, the theme of sustainability is considered as one of the main directions. The Bank is also considering prospects of participation in COP29, a globally prestigious event on sustainability and climate change, which will be hosted by Azerbaijan this year.
As part of its future plans, IBA has already started the accreditation process with the Green Climate Fund, the financial mechanism of the UN Framework Convention on Climate Change (UNFCCC). Based on cooperation with this Fund, it is intended to finance the initiatives of local businesses in the direction of sustainable development.
IBA continues researches to offer customers various innovations in many areas related to green banking and sustainable financing, such as carbon credits, sustainable bonds and loans. It also plans the implementation of projects aimed at the implementation of various new digital and physical solutions in order to save the use of paper and other natural resources.
Source of the news: https://azertag.az/xeber/__abb_yasil_dunya_tesebbuslerine_destek_olaraq_bmt_nin_qlobal_sazisine_qosulub-2949607
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