Azerbaijan Prepares National ESG Standard To Support Green Agenda

Azerbaijan is actively working on developing its national Environmental, Social, and Corporate Governance (ESG) standard, as announced during a meeting at the Baku KOB House. The initiative, discussed at the Corporate Management, Investments, and Corporate Social Responsibility Working Group, is being prepared with technical assistance from the International Organization for Standardization (ISO) and the Azerbaijan Standardization Institute. The national ESG standard aims to create a comprehensive regulatory framework for ESG activities and promote sustainable development. The meeting also emphasized cooperation with the World Economic Forum to improve Azerbaijan s business environment and innovation through updated data on indicators like Conditions for Doing Business and Development of Clusters in the Global Innovation Index. The adoption of the national ESG standard is expected to enhance the country s green agenda and sustainable growth. Key officials, including Vusal Shikhaliyev, Head of the Department of Economic Policy and Industrial Affairs of the Presidential Administration, and Orkhan Mammadov, Chairman of KOBIA, attended the meeting. The initiative aligns with Azerbaijan s commitment to sustainable development and responsible business practices. The collaboration with international organizations like ISO and the World Economic Forum will help Azerbaijan establish a robust ESG framework and improve its global standing in terms of innovation and business environment.

Source: menafn.com
Published on 2024-09-14