Vusal Shikhaliyev: ESG standards to enable future development strategies in Azerbaijan

In line with the COP29 agenda, the introduction of Environmental, Social, and Corporate Governance (ESG) standards in Azerbaijan is set to empower government agencies and companies operating in the country to formulate future development strategies, said Vusal Shikhaliyev, Head of the Secretariat of the Commission on Business Environment and International Ratings of Azerbaijan, Report informs.

Speaking at a conference in Baku titled "For the Sustainable Development of Azerbaijan: Presentation of the Unified Platform and National Standard on Environmental, Social and Corporate Governance (ESG)," Shikhaliyev acknowledged the challenges faced in establishing the ESG platform but emphasized the significant progress made.

"Stakeholders have accepted these standards," he noted.

Shikhaliyev highlighted that the creation of this platform was possible in a short period of time: "Achieving its development is now one of the main objectives. This will enable business optimization."