Azerbaijan’s national ESG standards remain at harmonization stage

BAKU: Azerbaijan’s national standards in the field of environmental, social, and corporate governance (ESG) are at the stage of harmonization, the head of the secretariat of the Azerbaijan Business Environment and International Ratings Commission Vusal Shikhaliyev said, Trend reports. He made the statement at the presentation of the concept of a ‘Unified digital platform on Environmental, Social and Corporate Governance (ESG) standards.’ ‘Azerbaijan has developed national standards in the field of environmental, social, and corporate governance (ESG). The project aimed at approving these national standards has been developed by the Small and Medium Business Development Agency (KOBIA) and is currently at the approval stage. Our goal is to integrate and synchronize international requirements with national standards in the field of ESG,’ he stressed. To note, the concept of the “Unified Digital Platform for Environmental, Social, and Corporate Governance (ESG) Standards” has been developed by the Commission o n Business Environment and International Rankings of the Republic of Azerbaijan, which was established by the Decree of the President of the Republic of Azerbaijan in 2016, the purpose of which is to ensure overall optimal business performance, create a business environment that is based on competitive principles, improve the country’s investment attractiveness, and take other necessary measures to improve Azerbaijan’s position in international rankings. Source: Trend News Agency