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Next meeting of the sub-group on environmental, social and corporate governance standards held 26.12.23

The results of the survey on the level of awareness of ESG principles in Azerbaijan were briefed at the meeting of the sub-group on environmental, social and corporate governance standards operating under the Commission on Business Environment and International Rankings.

On December 25, the next meeting of the Environmental, social and corporate governance (ESG) standards subgroup of the "Corporate governance, investments and corporate social responsibility" working group led by the Small and Medium Business Development Agency (KOBİA) and the Commission on Business Environment and International Rankings was held.

Representatives of state bodies, as well as a number of public associations and consulting companies attended the online meeting.

Vusal Shikhaliyev, Head of the Secretariat of the Commission on Business Environment and International Rankings, Head of the Sector at the Department of Economic Policy and Industrial Issues of the Presidential Administration of the Republic of Azerbaijan, and Natig Hasanov, Head of the sub-group on ESG standards, first deputy chairman of the Board of KOBİA, expressed their insights on the work done in 2023 and future tasks planned within the mandate of the sub-group. It was underlined that in 2023, a survey on the level of awareness of ESG principles was conducted in Azerbaijan, local entrepreneurs and managers took part in international training in the relevant field within the framework of the Germany-Azerbaijan Joint Program coordinated by KOBİA.

At the meeting, presentations were made on the actions taken in the implementation of the Road Map for 2023 on the stimulation and promotion of the application of environmental, social and corporate governance (ESG) principles, the results of the survey on the awareness level of ESG principles in Azerbaijan, and discussions were held on the directions of action for the next year. In addition, given the declaration of 2024 by the President of the Republic of Azerbaijan as the "Year of Solidarity for the Green World" in our country, it was highlighted that sub-group should take the necessary actions on ESG standards, and the proposals of the group members should be taken into consideration.