Baku, Azerbaijan - November 16, 2023 - Ministry of Economy’s National Coordination Council on Sustainable Development of the Republic of Azerbaijan hosted the Second Baku Forum on Development on 15th and 16th of November 2023, in collaboration with United Nations Development Programme (UNDP), aiming to catalyze the national and global progress towards the Sustainable Development Goals (SDGs).

The event commenced with a distinguished opening ceremony, featuring speeches from notable figures such as H.E. Mr. Ali Ahmadov, Deputy Prime Minister of the Republic of Azerbaijan and Chairman of the National Coordination Council on Sustainable Development and H.E. Mr. Mikayıl Jabbarov, Minister of Economy of the Republic of Azerbaijan and Deputy Chairman of the National Coordination Council on Sustainable Development.

The Forum brought together leaders, experts, and stakeholders from around the world to explore innovative strategies and collaborative frameworks for a more sustainable future, providing a significant platform for shaping discussions on sustainable investments, impact measurement and management, digitalization, climate resilience, and biodiversity conservation.

The panel sessions were inaugurated by representatives from the ministries of the participating countries in the Forum, signifying a collective commitment to advancing sustainable development on a global scale.

Ms. Alessandra Roccasalvo, acting UNDP Resident Representative, emphasized that the knowledge acquired and collaborative relationships established at the Forum will be instrumental in shaping the direction for sustainable and inclusive development not only in Azerbaijan but also beyond its borders.

The Azerbaijan SDG Investor Map was launched on the first day of the Forum, a valuable market intelligence tool designed to empower investors with key insights, identifying investment opportunities that have the potential to contribute towards the country’s SDG priorities. The Azerbaijan SDG Investor Map is a market intelligence tool that makes visible the SDG-enabling investment themes and business models (investment opportunity areas or IOAs) are aligned to national sustainable development needs, government policy priority, and where viable business models already exist. It is freely available on the SDG Investor Platform.

The Azerbaijan SDG Investor Map pinpoints ten IOAs within four key national priority sectors. These sectors, namely Infrastructure, Renewable Resources & Alternative Energy, Food and Beverage, and Services (Tourism), require increased private sector investment in order to realize both national development goals and the SDGs.

Additionally, the Impact Investing Ecosystem Study in Azerbaijan was presented, offering a comprehensive stakeholder mapping and initial analysis of Azerbaijan's investing landscape. UNDP’s Istanbul International Center for Private Sector in Development (ICPSD) developed this methodology to promote sustainable investing with the SDGs as the guiding framework especially for developing and least developed countries.

The Impact Investing Ecosystem Study in Azerbaijan identifies potential areas for ecosystem growth, the particular challenges which stakeholders face, and recommendations to address these challenges. Potential areas for ecosystem growth include green growth & green entrepreneurship, harnessing the power of technology for development and mobilizing private sector solutions to address inequality and marginalization. 

Engaging panel sessions explored topics such as reshaping financial architecture, driving SDG investments, digitalization for competitive economies, and climate and biodiversity finance. Moderated by a field of experts, these discussions provided a dynamic platform for thought leaders, policymakers, and investors to share knowledge and perspectives.

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