The summary of best practices set out below does not intend to be complete. This would be impossible, considering the continued innovation in the field of green and sustainable finance. it should rather serve as a first compendium of such practices that will then become a living repository to which new practices are added as they are being developed.
not all of the practices included here are equally relevant to the Armenian financial market and some of them will not even be implementable until some basic actions have been taken. They are, nevertheless, important elements of the offer that the financial sector can make to the energy transition and increased resilience to climatic threats. As such, it is hoped, that the inclusion of financial best practices, even where these are not yet relevant to the Armenian market, will also stimulate innovation within Armenia and Armenian financial institutions in order to broaden the offer of green and sustainable financial products in the Armenian market.
The survey results of phase one of the project have clearly shown that there is substantial room for innovation in the Armenian market for green and sustainable finance. The practices outlined here will give Armenian financial institutions insight into what is possible and what the benefits and potential pitfalls of introducing such instruments might be.