Today . Az - KOBIA develops project for national ESG standards implementation
The Small and Medium Business Development Agency (SMBDA /KOBIA), operating under the Azerbaijan Ministry of Economy, has developed a project focused on the implementation of national environmental, social, and corporate governance (ESG) standards. This initiative is currently undergoing the approval process. Vusal Shikhaliyev, the Secretariat Head of the Commission on Business Environment and International Rankings, provided an update on the project during a presentation of the concept for a unified digital ESG platform. The goal of this platform is to align international ESG requirements with the country s national standards, ensuring a cohesive and standardized approach to ESG practices. This project reflects Azerbaijan s commitment to integrating ESG principles into its business environment and international rankings. By adopting and harmonizing these standards, the country aims to enhance its reputation as a responsible and sustainable business partner. The digital ESG platform will serve as a centralized resource for businesses to access and adhere to these standards, promoting transparency, accountability, and sustainable growth. The approval process for the project is ongoing, and its successful implementation will likely contribute to Azerbaijan s efforts to strengthen its business environment and attract foreign investment. The integration of national ESG standards with international requirements will also help the country to better comply with global sustainability trends and regulations. In summary, the Small and Medium Business Development Agency (SMBDA /KOBIA) in Azerbaijan is working on a project to implement national ESG standards, with the aim of integrating and synchronizing these standards with international requirements. The project is currently in the approval process, and its successful implementation will likely benefit the country s business environment, international rankings, and sustainable development efforts.
Source: today.azPublished on 2024-09-21