Azerbaijan Plans To Provide Privileges To Companies Following ESG Policy
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, July 3. The government of
Azerbaijan plans to provide privileges to the companies following
the Ecology, Society, and Governance (ESG) policy this year, Head
of the Sector of the Department of Economic Policy and Industrial
Issues of the Presidential Administration of Azerbaijan and Head of
the Secretariat of the Business Environment and International
Ratings Commission Vusal Shikhaliyev said, Trend
reports.
He made the statement at the ESG Summit: Public-Private
Partnership (PPP) for Sustainable Development Goals (SDG) in
Baku.
Shikhaliyev emphasized the crucial role of integrating ESG
elements into Azerbaijan's economy ahead of COP29.
"Conditions are being established in the country to encourage
active participation in ESG practices. Enhancing the business
environment to promote ESG elements remains a key priority for
Azerbaijan," he added.
This November, Azerbaijan will host COP29. This decision was
made at the COP28 plenary meeting held in Dubai on December 11 last
year. Baku will become the center of the world and will receive
about 70–80,000 foreign guests.
The United Nations Framework Convention on Climate Change is an
agreement signed at the Earth Summit in Rio de Janeiro in June 1992
to prevent dangerous human interference with the climate system.
COP - the Conference of the Parties - is the highest legislative
body overseeing the implementation of the Framework Convention on
Climate Change. There are 198 countries that are parties to the
Convention. Unless the parties agree otherwise, the COP is held
annually. The first COP event took place in March 1995 in Berlin,
and its secretariat is located in Bonn.
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