The unified ESG platform will serve as a resource center, consolidating information and materials in the relevant field.
A conference was held on the presentation of a unified platform and national standard for environmental, social, and corporate governance (ESG), organized by the Commission on Business Environment and International Ratings and the Small and Medium Business Development Agency (SMBDA), with the support of ABB and Azercell Telecom LLC.
Representatives of relevant government agencies, international organizations, and entrepreneurs participated in the conference.
The Head of the Secretariat of the Business Environment and International Ratings Commission and Sector Head of the Economic Policy and Industry Department at the Presidential Administration of Azerbaijan, Vusal Shikhaliev; Chairman of the Milli Majlis Natural Resources, Energy, and Ecology Committee, Sadig Gurbanov; Chairman of the Board of the Small and Medium Business Development Agency (SMBDA) and leader of the "Corporate Governance, Investments, and Corporate Social Responsibility" working group, which includes an ESG subgroup, Orkhan Mammadov; Deputy Minister of Ecology and Natural Resources, Vugar Karimov; Deputy Minister of Labor and Social Protection, Anar Karimov; and UN Resident Coordinator in Azerbaijan, Vladanka Andreeva, shared their insights on the importance of ESG principles.They discussed the environmental impact of ESG, its social dimensions, the contribution of these principles to sustainable and resilient development, benefits for the private sector, and international best practices in the field.
Within the framework of the event, Senior Advisor of the Economic Policy and Industry Department at the Presidential Administration of the Republic of Azerbaijan, Gulnaz Javadova, delivered a presentation on the unified ESG platform (https://esghub.az/), and Director General of the Azerbaijan Standardization Institute, Ilham Bayramov, presented on the national ESG standard. Additionally, Ulviyya Akbar, the United Nations Partnership and Development Officer in Azerbaijan, provided insights into the concept behind the ESG platform. It was emphasized that the unified ESG platform will serve as a continually updated resource center consolidating comprehensive information and materials related to ESG. The platform aims to provide businesses with data and indicators on their current status, sustainability, and ESG reporting, thereby facilitating the attraction of foreign investors. Partners will be able to offer ESG-related services to businesses through the platform, while businesses will gain access to experienced professionals and specialized companies in the ESG Domain. The platform is expected to contribute positively to environmental and sustainable development issues as well as to the ecological performance indicators in international rankings. Launched as Azerbaijan prepares to host COP29, the ESG platform also reaffirms the country's commitment to ecological sustainability.
During the conference, it was noted that the national ESG standard was developed at the initiative of the Small and Medium Business Development Agency (SMBDA) within the framework of the Commission on Business Environment and International Rankings. The standard was prepared based on the recommendations of the International Organization for Standardization and was recently adopted by the Azerbaijan Standardization Institute. The state standard, "AZS IWA 48:2024 - Framework for the Application of Environmental, Social, and Corporate Governance (ESG) Principles", is considered one of the first practices adopted in this field. The new state standard provides a framework to support sustainable development and promote social responsibility in the modern business environment by applying ESG principles in enterprises and organizations. The goal of the standard is to assist businesses and organizations in formulating and implementing ESG strategies. Its application aims to support sustainable development in the public and private sectors, improve customer satisfaction, reduce risks, and enhance social responsibility. The application of this standard is voluntary and aims to positively influence sustainability and risk management while promoting responsible business practices.
The event continued with panel discussions on the topic "Building a Greener Future: Strategies for Effective Implementation of the ESG Platform and Principles," where participants' questions were addressed.
