BAKU, Azerbaijan, November 6. Azerbaijan has already completed three out of five planned stages stipulated by the strategic document on environmental, social, and corporate governance (ESG), and the completion of the remaining two is expected shortly, Head of the Secretariat of the Business Environment and International Ratings Commission of Azerbaijan Vusal Shikhaliyev said, Trend reports.
He made the remark at the conference "For Sustainable Development of Azerbaijan: Presentation of the Unified Platform and National Standard on Environmental, Social and Corporate Governance (ESG)."
“Sustainable development and acceleration of economic growth in our country are determined by strategies approved by the head of state and are central to state programs. These programs set national priorities for socio-economic development, among which one of the five main tasks is to promote green growth. Based on these basic principles, the directions of state policy have been defined, covering environmental protection, social responsibility, and corporate governance, as well as the creation of a legal framework and ecosystem on ESG,” he noted.
Shikhaliyev mentioned that the strategic document on ESG was cooked up in Azerbaijan back in 2022 and got the green light from the state.
“This document outlines systemic measures categorized into five primary areas. We are pleased to announce that three of the five scheduled stages have been completed. The final two stages—incorporation of ESG concepts into the private sector and governmental activities, together with the establishment of assessment and monitoring tools—will be executed shortly,” Shikhaliyev added.
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