Today . Az - Azerbaijan adoption of ESG standards paves way for global recognition
Boris Janjaliani, an ESG expert from the International Finance Corporation (IFC), highlighted the significance of implementing national environmental, social, and corporate governance (ESG) standards in Azerbaijan to improve the global standing of local companies. Speaking at the launch of a digital platform dedicated to ESG integration, Janjaliani underscored the potential of these standards to facilitate Azerbaijani companies participation in the global supply chain. Janjaliani emphasized the importance of manageable ESG processes and urged businesses to view ESG implementation as a critical step towards sustainable development, rather than just a compliance requirement. He stressed that the support of company leaders and supervisory boards is crucial for the successful adoption of ESG standards. Moreover, Janjaliani highlighted the need for managers to recognize the changing business landscape and prepare for future challenges by initiating ESG processes now. By doing so, Azerbaijani companies can enhance their global recognition and contribute to sustainable development. In summary, the implementation of ESG standards in Azerbaijan can significantly benefit local companies by enhancing their global recognition and participation in the global supply chain. It is essential for businesses to view ESG implementation as a crucial step towards sustainable development and to seek support from company leaders and supervisory boards for successful adoption. Managers must also recognize the changing business landscape and initiate ESG processes to prepare for future challenges.
Source: today.azPublished on 2024-09-21
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