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BAKU, Azerbaijan, July 3. Azerbaijan will
current its fourth voluntary nationwide overview (VNR) of actions on
the local weather agenda in New York on the UN headquarters on July 15,
the nation’s Deputy Financial system Minister Sahib Mammadov mentioned, Development reviews.
He made the assertion on the ESG Summit: Public-Non-public
Partnership (PPP) for Sustainable Improvement Targets (SDG) in Baku
as we speak.
“We’ll be one in all 5 international locations on this planet to current the
fourth voluntary report on local weather commitments in New York on July
15. We’re additionally among the many few international locations on this planet which have
offered seven nationwide reviews on sustainable growth,”
emphasised Mammadov.
Concerning the subject of as we speak’s ESG summit, he famous that
correct governance is a elementary pillar of Azerbaijan’s
sustainable growth program.
In response to him, by implementing the “2030 Agenda for
Sustainable Improvement Targets,” the federal government not solely creates
prospects for inclusive and sustainable financial progress but additionally
opens new alternatives for strengthening multilateral cooperation
with the personal sector.
“By establishing partnerships with personal sector leaders who
share our values, we strengthen governance methods and uphold the
highest requirements of company duty,” the deputy minister
mentioned.
Concerning accountability and transparency in ESG (environmental,
social, and governance), Mammadov mentioned that implementing ESG
rules includes integrating sustainable and accountable
enterprise practices into the nation’s company and monetary
methods.
“The federal government of Azerbaijan acknowledges the essential significance
of ESG components for companies, buyers, and policymakers as they
assess the long-term viability and influence of financial actions.
On this context, final yr the Ministry of Financial system launched a
mission in collaboration with UNDP to advertise the ESG system in
Azerbaijan,” the deputy minister mentioned.
Mammadov talked about that the aim of this mission is to foster
accountable company habits, finally supporting the
Azerbaijani authorities in optimizing useful resource allocation for
nationwide growth objectives consistent with the 2030 Agenda.
“The mission goals to create an Built-in Nationwide Financing
Framework (INFF) to help the Azerbaijani authorities in
successfully managing and mobilizing personal, public, and
worldwide financing to realize sustainable growth
outcomes,” he defined.
The official additionally mentioned that ESG serves as a platform for
intensifying actions and accelerating progress in direction of attaining
the SDGs.
“By dialogue, cooperation, and shared duty, we
can unlock new progress alternatives whereas defending our planet and
bettering the well-being of all individuals,” added the deputy
minister.
To notice, the earlier, third VNR on sustainable growth was
offered by Azerbaijan on the Excessive-Degree Political Discussion board (HLPF) in
July 2021, outlining the nation’s progress and challenges in
implementing the SDGs, with a deal with constructing again higher from
the COVID-19 pandemic, fostering financial progress, and selling
sustainable growth.
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