Azerbaijan Prepares National ESG Standard To Support Green Agenda
Date
9/14/2024 3:08:55 AM
(MENAFN- AzerNews)
Akbar Novruz
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Azerbaijan is actively working on developing its national
Environmental, Social, and Corporate Governance (ESG) standard, as
announced during a meeting at the "Baku KOB House," attended by key
officials, including Vusal Shikhaliyev, Head of the Department of
Economic Policy and Industrial Affairs of the Presidential
Administration, and Orkhan Mammadov, Chairman of KOBIA,
Azernews reports.
The initiative was discussed at the meeting of the "Corporate
Management, Investments, and Corporate Social Responsibility"
Working Group.
The national ESG standard is being prepared with technical
assistance from the International Organization for Standardization
(ISO) and the Azerbaijan Standardization Institute. The standard
aims to create a comprehensive regulatory framework for ESG
activities, while promoting and encouraging sustainable
development.
The meeting also highlighted cooperation with the World Economic
Forum, which supports efforts to improve Azerbaijan's business
environment and innovation through updated data on indicators like
"Conditions for Doing Business" and "Development of Clusters" in
the Global Innovation Index. The adoption of the national ESG
standard is expected to enhance the country's green agenda and
sustainable growth.
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