BAKU, Azerbaijan, November 6. The proper risk management system in ESG issues is crucial, the regional ESG expert of the International Finance Corporation Boris Janjalia said at the conference "For the Sustainable Development of Azerbaijan: presentation of the Unified Platform and the National Standard on Environmental, Social and Corporate Governance (ESG)", Trend reports.
“This initiative to create an ESG platform plays an important role in advancing the concept of ESG and sustainability. The key elements of success here are infrastructure and financial projects, which are crucial to move this forward,” he noted.
According to the expert, governance is the bedrock upon which ESG stands tall.
“Effective risk management system is of particular importance. I have familiarized myself with the presentation of national standards, and these aspects must be already taken into account there. It is important to understand how environmental and social risks are integrated into the overall risk management system of a company or institution,” Janjalia added.
To note, Baku is hosting a conference titled “For sustainable development of Azerbaijan: presentation of the Unified Platform and National Standard on Environmental, Social and Corporate Governance (ESG)”.
The event sees the attendance of Sadig Gurbanov, the chairman of the Committee on Natural Resources, Energy and Ecology of the Azerbaijani Parliament, along with Vladanka Andreeva, UN Resident Coordinator in Azerbaijan, and a host of other officials.