Exciting News in Azerbaijan: New Unified ESG Standard on the Horizon
In a recent announcement, Natig Hasanov, the First Deputy Chairman of the Board of the Small and Medium Business Development Agency of Azerbaijan (KOBIA), revealed that a new unified ESG (Environmental, Social, and Corporate Governance) standard will soon be adopted in Azerbaijan. This groundbreaking standard is set to be unveiled for the first time in the country, with finalization expected by the end of this month or the beginning of next.
At a gathering focused on business environment reforms and electronic government services in Baku, Hasanov shared insights into the upcoming standard, highlighting its significance for companies in Azerbaijan. The “Unified Digital Platform for ESG” concept, recently introduced in Baku, is poised to revolutionize how businesses integrate sustainable practices into their operations.
This digital platform not only serves as a management and control tool but also provides valuable resources for companies to align with best practices in ESG. Real-time monitoring and reporting capabilities will enable businesses to swiftly adapt their strategies in response to stakeholder expectations, fostering transparency and trust within the community.
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