BAKU: Azerbaijan is poised to introduce a new unified standard for Environmental, Social, and Corporate Governance (ESG) in the coming days, as announced by Natig Hasanov, the First Deputy Chairman of the Board of the Small and Medium Business Development Agency of Azerbaijan (KOBIA). The announcement was made during an event focused on business environment reforms and electronic government services in Baku.

According to Trend News Agency, the forthcoming ESG standard is expected to be finalized by the end of this month or early next month. This initiative follows the recent presentation of the “Unified Digital Platform for ESG” in Baku, which aims to integrate sustainable practices into everyday business operations.

The ESG digital platform serves as both a management and control tool, offering companies access to the latest information on best practices and analytical tools for assessing achievements in environmental, social, and corporate governance. It features real-time monitoring and reporting, enabli
ng businesses to swiftly adapt their strategies to meet evolving stakeholder demands and expectations. This capability is designed to improve transparency and foster trust between businesses and the wider community.