PwC Azerbaijan launches ESG standards platform for COP29

Unlocking Sustainable Business Practices in Azerbaijan

In preparation for COP29, Azerbaijan is set to unveil a groundbreaking digital platform that will revolutionize environmental, social, and corporate governance (ESG) standards in the country. Senior Manager of Legal and Sustainability at PwC Azerbaijan, Leyla Sadikhova, revealed the upcoming launch of this platform during a recent seminar on ESG reports.

Sadikhova highlighted the development of national ESG standards for SMEs and the imminent approval process. The digital platform aims to consolidate vital data and expert insights to aid businesses in addressing sustainability challenges efficiently. With COP acting as a catalyst this year, Azerbaijan is also witnessing legislative advancements in ESG integration.

Sadikhova emphasized the importance of businesses preparing for mandatory sustainability reporting and ESG diagnostics, hinting at future regulatory changes. Financial institutions are expected to lead this shift, with the Central Bank already incorporating ESG principles into corporate guidelines.

As Azerbaijan gears up for a sustainable future, the alignment of international regulations with local practices is crucial for driving impactful change in the business landscape.