Azerbaijan's adoption of ESG standards paves way for global recognition

Azernews.Az

20 September 2024 17:13 (UTC+04:00)

Nazrin Abdul

The implementation of national environmental, social, and corporate governance (ESG) standards in Azerbaijan will enhance local companies' global recognition, according to Boris Janjaliani, an ESG expert from the International Finance Corporation (IFC).

He spoke at the launch of a digital platform focused on ESG integration, Azernews reports.

Janjaliani emphasized that these standards could help Azerbaijani companies engage in the global supply chain. He noted the importance of manageable ESG processes, urging businesses to view ESG implementation as a crucial step toward sustainable development rather than a mere obligation.

Support from company leaders and supervisory boards is vital for the successful adoption of ESG standards. Janjaliani stressed the need for managers to recognize the changing business landscape and prepare for future challenges by initiating ESG processes now.

---