FIRST in Azerbaijan - Large-scale ESG Integration Conference HELD in Baku

An ESG (Environmental, Social, and Governance) integration conference titled "Strengthening ESG Integration in Azerbaijan: Towards Sustainable Business Practices" was held in Baku, organized by "Greentech Solutions" LLC with the support of "bp Azerbaijan" and partners.

Representatives of government agencies and the private sector, as well as independent experts, came together at the event held at "Badamdar Hotel & Residence."

Officials from the Ministry of Ecology and Natural Resources, Small and Medium Business Development Agency (KOBIA), Azerbaijan State Oil Company (SOCAR), Azerbaijan Airlines (AZAL), and ASAN Service, as well as representatives from various universities and companies participated in the conference.
Opening the event, Mikayil Zeynalov, Director of "Greentech Solutions," Sabina Alakbarova, the project coordinator, and Khalid Rajabov, Head of the Social Investment Group for bp's Azerbaijan, Georgia, and Türkiye region, greeted the conference participants. They emphasized the importance of the conference and the necessity of applying ESG principles in Azerbaijan.

This was followed by the presentation of the "ESGAzerbaijan.az" Web Portal.

During the presentation, it was stated that the main purpose of "ESGAzerbaijan.az" is to improve the integration of ESG principles in Azerbaijan, particularly in the field of waste management, and to support sustainable development and climate action.

At the same time, the importance of the "ESG Scoring" section on the portal was especially emphasized, highlighting the significance of ESG assessment in measuring companies' performance in the areas of environment, social responsibility, and governance.

Subsequently, panel discussions were held as part of the conference.

The discussions covered topics such as international and local experiences in the ESG field, effective application of ESG criteria to reporting and management processes, circular economy strategies, sustainable supply chains, and new approaches in corporate governance.

Speaking at the panel discussions, Khalid Rajabov, Head of the Social Investment Group for bp's Azerbaijan, Georgia, and Türkiye region, stated that taking concrete steps in the ESG field in Azerbaijan is important. The bp representative emphasized that the application of ESG standards is a crucial step for Azerbaijan to ensure the sustainability of economic development. Khalid Rajabov also noted that bp is interested in implementing such projects.

Movlan Pashayev, Law Professor at ADA University, noted in his speech that strengthening the legal framework and adopting relevant laws for compliance with ESG standards, especially the implementation of regulatory mechanisms for businesses and the financial sector to operate in accordance with ESG requirements, is essential.

Ayan Najaf, member of the Coordination Council of the COP29 Operations Company, stated that the application of ESG principles not only increases the sustainability of the economy but also strengthens the country's international competitiveness. She emphasized that this initiative allows Azerbaijan to become part of the global green economy, opening up to new markets, attracting foreign investment, and building a modern economy.

Shabnam Mammadova, founder and director of the "Smartnation" platform, discussed the importance of ESG principles in global practice. She stated that in Azerbaijan, ESG is no longer perceived merely as a trend or choice, but is also becoming an integral part of the new reality.

Samir Aliyev, economy expert of the "Impact Azerbaijan" team, also noted his interest in the application of ESG principles in our country. The expert emphasized the importance of initiatives in this direction, as well as the significance of citizens taking initiatives alongside the state and private sector.
The second part of the conference continued with info sessions.

In the first info session organized on the topic of "ESG Reporting and Compliance for Businesses," Gurban Karimbayli, Head of the Sustainable Development Department at AZAL and ESG Compliance Specialist, provided information to conference participants about Global ESG standards (GRI, TCFD, SASB). He also shared his thoughts on national ESG reporting requirements, as well as the integration of ESG indicators into business decisions.

Ayaz Salmanov, Circular Economy Specialist, spoke at the second info session entitled "Circular Economy - Practical Approaches." Discussing resource efficiency and waste reduction strategies, Ayaz Salmanov emphasized the importance of integrating circular principles into operations. The specialist also brought successful circular economy examples applied in real life to the attention of session participants.

Farahim Akbarov, Corporate Governance and Human Resources Strategy Specialist, spoke at the third info session organized on the topic of "Reward Management and Corporate Sustainability Goals." He discussed the importance of aligning reward systems with long-term sustainability targets, as well as promoting leadership for ESG results. The specialist also informed session participants about real examples of sustainable reward models.

About the "ESGAzerbaijan.az" Web Portal: The main purpose of the "ESGAzerbaijan.az" project is to improve the integration of ESG principles in Azerbaijan, particularly in the field of waste management, and to support sustainable development and climate action.

The "ESGAzerbaijan.az" Web Portal has an "ESG Scoring" section to assess companies' compliance with ESG standards. ESG assessment is a system that measures companies' performance in the areas of environment, social responsibility, and governance. ESG assessment helps to better understand risks and opportunities by considering companies' environmental impact, social responsibilities, and governance standards. ESG assessment supports more transparent and reliable decision-making for investors and stakeholders, while also promoting long-term sustainable growth.