EBRD, ASCO mull integrating climate issues into company's long-term goals

Azerbaijan Caspian Shipping Company (ASCO) and the European Bank for Reconstruction and Development (EBRD) have discussed the integration of climate change issues into the company's long-term goals, Report informs referring to ASCO.

ASCO held a final meeting with representatives of the EBRD and Ernst & Young (EY), which provides consulting services for the Climate-related Corporate Governance (CCG) project. During the meeting, an exchange of views took place on ASCO's preparedness for the risks and opportunities associated with climate change, as well as the integration of these factors into the company's strategic development plans and long-term goals.

The CCG Action Plan and the Sustainable Development Linked Loan (SLL) Action Plan developed within the project were also presented.

The meeting participants also presented and discussed the results of the company's climate risk analysis, physical and transition risk assessment, and corporate governance analysis based on the TCFD (Task Force on Climate-Related Financial Disclosures) and the EBRD's CCG Assessment Methodology.